The USDJPY pair has entered a bullish sentiment.

August 31, 2015

Article by ForexTime

EURUSD H4
Resistance 1.1277 1.1370 1.1431
Support 1.1123 1.1062 1.0969
Primary Scenario EURUSD is heading towards the resistance level at 1.1277. If the pair achieves to penetrate this level, it will target the forthcoming resistance at 1.1370.
Alternative Scenario A comeback of the currency pair will lead the market below the daily pivot at 1.1216 and then lower at 1.1123.

 

 

GBPUSD H4
Resistance 1.5437 1.5493 1.5545
Support 1.5329 1.5278 1.5222
Primary Scenario After testing the support level at 1.5329, GBPUSD is now poised to surpass the hurdle at 1.5437. If that happens, the next resistance is seen at 1.5493 and further up to 1.5545.
Alternative Scenario A plunge of the exchange rate below the daily pivot (1.5386) will push prices to retest the support level at 1.5329.

 

 

USDCHF H4
Resistance 0.9666 0.9710 0.9754
Support 0.9578 0.9534 0.9490
Primary Scenario USDCHF topped up at 0.9665, before closing below the daily pivot at 0.9622. A deeper correction of the market will lead the pair to breach the support level at 0.9578, targeting the next levels at 0.9534 and 0.9490.
Alternative Scenario On the other hand, should the pair manage to break out the daily pivot point, it will climb towards the resistance at 0.9666.

 

 

USDJPY H4
Resistance 121.31 122.02 122.67
Support 120.84 120.40 119.23
Primary Scenario The USDJPY pair has entered a bullish sentiment. A decisive movement to the north will most likely trigger the market to exceed the barrier at 121.31, with immediate target the resistance level at 122.02.
Alternative Scenario Alternatively, a setback of the currency pair will push the rate below the support level at 120.84 and then lower to the upper level of the cloud at 120.40.

AUDUSD H4
Resistance 0.7210 0.7250 0.7295
Support 0.7125 0.7080 0.7040
Primary Scenario AUDUSD is pivoting around the daily pivot at 0.7165. If the bears manage to take control of the bulls and eliminate the key support at 0.7125, the next target is estimated at 0.7080.
Alternative Scenario. An upward wave would lift the exchange rate above the daily pivot, towards the resistance level at 0.7210.

 

 

Article by ForexTime

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