After high fluctuation, USDJPY is now trading within the cloud.

December 18, 2015

Article by ForexTime

EURUSD H4
Resistance 1.0889 1.0956 1.1000
Support 1.0779 1.0735 1.0668
Primary Scenario EURUSD bounced up from the previous bottom and is now trading slightly above the daily pivot (1.0845). Any decisive movement to the north will trigger the market to climb towards the resistance level at 1.0889 and further up to 1.0956.
Alternative Scenario Should the pair manage to break below the daily pivot, it will open the way down to 1.0779.

GBPUSD H4
Resistance 1.4980 1.5065 1.5123
Support 1.4836 1.4778 1.4693
Primary Scenario The pair is negotiating above the daily pivot (1.4922). If the pair achieves to extend its correction course, the next resistance is seen at 1.4980 and even higher at 1.5065.
Alternative Scenario On the other hand, a comeback of GBPUSD will push prices to find support at 1.4836.

USDCHF H4
Resistance 1.0007 1.0053 1.0117
Support 0.9897 0.9834 0.9787
Primary Scenario USDCHF topped up at 0.9990, before closing below the daily pivot at 0.9944. Further drop of the market will lead the exchange rate towards the support level at 0.9897 and then lower at 0.9834.
Alternative Scenario An upward wave would lift the currency pair above the daily pivot, with immediate target the resistance at 1.0007.

USDJPY H4
Resistance 122.12 122.59 123.11
Support 121.68 121.20 120.57
Primary Scenario After high fluctuation of the rate, USDJPY is now trading within the cloud. A plunge of the market below the support level at 121.68 will push the pair to find support at 121.20.
Alternative Scenario Alternatively, a surge of the pair above the upper level of the cloud (122.12) will fuel the market towards the resistance at 122.59.

AUDUSD H4
Resistance 0.7215 0.7309 0.7368
Support 0.7061 0.7002 0.6908
Primary Scenario AUDUSD is now poised to penetrate the daily pivot at 0.7155. A failed attempt will push the pair down to 0.7061 and even lower at 0.7002.
Alternative Scenario. An upward wave above the daily pivot would accelerate the market towards the resistance level at 0.7215.

 

Article by ForexTime

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