USDJPY: The strength of the market faded.

November 25, 2014

Article by ForexTime

EURUSD H4
Resistance 1.2469 1.2497 1.2551
Support 1.2387 1.2333 1.2305
Primary Scenario The pair retraced from the previous dip and managed to exceed the daily pivot at 1.2415. An upward momentum will lead EURUSD higher towards the resistance level at 1.2469 and further up at 1.2497.
Alternative Scenario On the other hand, a breach below the daily pivot will push prices to find support at 1.2387.

 

GBPUSD H4
Resistance 1.5736 1.5768 1.5822
Support 1.5650 1.5596 1.5564
Primary Scenario GBPUSD is negotiating slightly above the daily pivot (1.5682). Any decisive movement upwards will trigger the market to target the resistances at 1.5736 and 1.5768.
Alternative Scenario A break back below the daily pivot, will open the way towards the support level at 1.5650.

 

USDCHF H4
Resistance 0.9706 0.9749 0.9772
Support 0.9641 0.9619 0.9576
Primary Scenario The pair topped up at 0.9727, before closing below the daily pivot at 0.9684. A failed attempt to penetrate this level, implies further correction down to the support level at 0.9641. The next support is seen at 0.9619.
Alternative Scenario A successful attempt to surpass the daily pivot, will fuel USDCHF further up to the hurdle at 0.9706.

 

USDJPY H4
Resistance 118.16 118.98 119.77
Support 117.77 117.34 116.80
Primary Scenario The strength of the market faded. Any fruitful movement to the north, will generate strength for the pair to penetrate the barrier at 118.16. The next resistance is estimated at 118.98.
Alternative Scenario A dip of USDJPY, will lead the market below the support at 117.77 and then lower at 117.34.

 

AUDUSD H4
Resistance 0.8677 0.8737 0.8775
Support 0.8578 0.8540 0.8480
Primary Scenario AUDUSD has tested the key support at 0.8578. Any forceful movement to the south will push prices to violate this level, with immediate target the forthcoming support at 0.8540.
Alternative Scenario A bounce up from current levels, will move the exchange rate towards the daily pivot at 0.8639.

 

 

Article by ForexTime

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