USDJPY finally managed to exit the Kumo.

January 9, 2015

Article by ForexTime

EURUSD H4
Resistance 1.1841 1.1890 1.1934
Support 1.1747 1.1704 1.1654
Primary Scenario EURUSD is gyrating the daily pivot at 1.1797. If the pair manages to extend its correction, it will target the resistance level at 1.1841 and then higher at 1.1890.
Alternative Scenario A break below the daily pivot will push prices to find support at 1.1747.

 

GBPUSD H4
Resistance 1.5125 1.5162 1.5208
Support 1.5042 1.4996 1.4958
Primary Scenario The pair is trading narrowly above the daily pivot (1.5079). A decisive movement to the north will trigger GBPUSD to hit the hurdle at 1.5125. The next resistance is seen at 1.5162.
Alternative Scenario A comeback of the market, will lead the pair below the daily pivot, to retest the support level at 1.5042.

 

USDCHF H4
Resistance 1.0219 1.0257 1.0299
Support 1.0139 1.0097 1.0059
Primary Scenario USDCHF edged up at 1.0219, before retracing below the daily pivot at 1.0177. Further correction of the currency pair will push the rate down to 1.0139 and even lower at 1.0097.
Alternative Scenario An upward wave will lead the market to penetrate the daily pivot and to target the resistance at 1.0219.

 

USDJPY H4
Resistance 119.63 119.90 120.74
Support 119.16 118.70 118.05
Primary Scenario The pair finally managed to exit the Kumo. Any forceful movement to the south to breach the support at 119.16, will open the way down to 118.70.
Alternative Scenario Should USDJPY achieve to surpass the resistance level at 119.63, the next resistance is seen at 119.90.

 

AUDUSD H4
Resistance 0.8144 0.8167 0.8204
Support 0.8083 0.8046 0.8023
Primary Scenario AUDUSD is now testing the hurdle at 0.8144. A successful penetration of this level, will fuel the pair further towards the resistance level at 0.8167.
Alternative Scenario A plunge of the market will push the pair to reach the daily pivot point at 0.8106.

 

 

Article by ForexTime

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