USDJPY has reached fresh highs.

May 4, 2015

Article by ForexTime

EURUSD H4
Resistance 1.1267 1.1335 1.1382
Support 1.1152 1.1106 1.1037
Primary Scenario EURUSD topped up at 1.1289, before retracing below the daily pivot. A deeper correction will push prices lower, towards the support levels at 1.1152 and 1.1106.
Alternative Scenario A successful attempt to penetrate the daily pivot at 1.1220 will lift the exchange rate to retest the hurdle at 1.1267.

 



GBPUSD H4
Resistance 1.5319 1.5499 1.5602
Support 1.5036 1.4933 1.4753
Primary Scenario The pair is now testing a key support level. Any decisive movement downwards will lead the market to breach the support level at 1.5036, with immediate target the next support level at 1.4933.
Alternative Scenario A higher thrust of GBPUSD will fuel the pair to exceed the daily pivot (1.5216), targeting the next resistance at 1.5319.

 

 

USDCHF H4
Resistance 0.9355 0.9392 0.9432
Support 0.9277 0.9237 0.9200
Primary Scenario USDCHF bounced up from the previous low and is now heading towards the barrier at 0.9355. A break through this level will most likely trigger the market to target the forthcoming resistance at 0.9392.
Alternative Scenario Alternatively, a failed attempt to move higher will push the pair to find support at 0.9277 and further down to 0.9237.

USDJPY H4
Resistance 120.28 120.83 121.66
Support 119.98 119.67 119.31
Primary Scenario USDJPY has reached fresh highs. If the pair manages to withstand the sellers’ pressure, it will retest the hurdle at 120.28 and will climb towards the resistance level at 120.83.
Alternative Scenario Should the pair achieve to violate the support level at 119.98, the next support is seen at 119.67.

AUDUSD H4
Resistance 0.7908 0.7970 0.8023
Support 0.7794 0.7741 0.7679
Primary Scenario AUDUSD is gyrating the daily pivot at 0.7855. Any forceful attempt to breach the barrier at 0.7794 will lead the pair underway towards the next support at 0.7741.
Alternative Scenario An upward wave would generate strength for the market to penetrate the daily pivot, targeting the resistance at 0.7908.

 

 

Article by ForexTime

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