USDJPY is now poised to exceed the hurdle at 119.93.

May 11, 2015

Article by ForexTime

EURUSD H4
Resistance 1.1264 1.1330 1.1373
Support 1.1155 1.1112 1.1046
Primary Scenario EURUSD achieved to violate the key support level at 1.1155. Further drop of the market will push prices lower, down to 1.1112 and 1.1046.
Alternative Scenario A reversal back above the hurdle at 1.1155 will lift the exchange rate towards the daily pivot point at 1.1221.

 



GBPUSD H4
Resistance 1.5563 1.5685 1.5849
Support 1.5277 1.5113 1.4991
Primary Scenario The pair is hovering slightly above the daily pivot at 1.5399. A bounce up from current levels will trigger the market to retest the resistance at 1.5563 and surge even higher at 1.5685.
Alternative Scenario A plunge of the market below the daily pivot will open the way down to 1.5277.

 

 

USDCHF H4
Resistance 0.9348 0.9402 0.9482
Support 0.9214 0.9134 0.9080
Primary Scenario The USDCHF pair is now testing the hurdle at 0.9348. A successful penetration of this level will most likely lead the market to target the forthcoming resistance levels at 0.9402 and 0.9482.
Alternative Scenario Alternatively, a setback of the currency pair will push the rate to find support at the daily pivot (0.9268) and further down to 0.9214.

USDJPY H4
Resistance 119.93 120.22 120.50
Support 119.76 119.38 119.05
Primary Scenario USDJPY is now poised to exceed the hurdle at 119.93. If that happens the next target will be the resistance level at 120.22 and then higher at 120.50.
Alternative Scenario On the other hand, a comeback of the market will lead the pair to hit the support level at 119.76. Further drop of the market will bring the pair into the cloud, with immediate target the lower level of the Kumo at 119.38.

AUDUSD H4
Resistance 0.7972 0.8021 0.8076
Support 0.7868 0.7813 0.7764
Primary Scenario AUDUSD is gyrating the daily pivot at 0.7917. A decisive movement to the south will push prices to retest the support level at 0.7868. Should the pair achieve to breach this level, the next support is seen at 0.7813.
Alternative Scenario An upward momentum will generate strength for the market to surpass the daily pivot, targeting the resistance level at 0.7972.

 

 

Article by ForexTime

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