USDJPY turned sharply bearish in today’s session.

July 5, 2016

Article by ForexTime

EURUSD H4
Resistance 1.1174 1.1197 1.1236
Support 1.1113 1.1074 1.1051
Primary Scenario EURUSD is gyrating the daily pivot point at 1.1136. Any forceful attempt to violate the support level at 1.1113 will push prices to find support at 1.1074.
Alternative Scenario A higher thrust of the exchange rate will lift the market above the daily pivot and then higher at 1.1174.

GBPUSD H4
Resistance 1.3335 1.3386 1.3434
Support 1.3236 1.3188 1.3137
Primary Scenario The pair is now testing the key support level at 1.3236. A drop of the market below this level will most likely lead GBPUSD underway towards 1.3188 and further down to 1.3137.
Alternative Scenario On the other hand, a reversal back above the daily pivot point (1.3287) will fuel the pair to retest the hurdle at 1.3335.

USDCHF H4
Resistance 0.9740 0.9777 0.9796
Support 0.9685 0.9665 0.9629
Primary Scenario USDCHF is following a downtrend. If the bears manage to overweigh the bulls’ pressure, the next support is seen at 0.9685 and even lower at 0.9665.
Alternative Scenario Should the pair achieve to exceed the daily pivot, will trigger the market to test the hurdle in line at 0.9740.

USDJPY H4
Resistance 102.15 102.51 102.89
Support 101.97 101.51 101.12
Primary Scenario The pair turned sharply bearish in today’s session. If USDJPY achieves to extend its momentum and breach the key support at 101.97, the next support is estimated at 101.51.
Alternative Scenario Alternatively, an upward wave would lead the pair to surpass the barrier at 102.15, with immediate target the resistance at 102.51.

AUDUSD H4
Resistance 0.7573 0.7608 0.7673
Support 0.7472 0.7407 0.7371
Primary Scenario AUDUSD is trading slightly above the daily pivot at 0.7508. A bounce up from current levels will push the pair to target the forthcoming resistance at 0.7573 and further up to 0.7608.
Alternative Scenario A plunge of the market below the daily pivot will pave the path down to 0.7472.

 

Article by ForexTime

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