USDJPY pummeled in the previous session.

December 10, 2015

Article by ForexTime

EURUSD H4
Resistance 1.1082 1.1144 1.1246
Support 1.0919 1.0817 1.0755
Primary Scenario EURUSD surged in a multi-month high. If the pair achieves to extend its momentum, it will climb towards the resistance levels at 1.1082 and then higher at 1.1144.
Alternative Scenario A reversal back below the daily pivot (1.0980) will open the way down to 1.0919. RSI oscillator is trading within the overbought zone.

GBPUSD H4
Resistance 1.5242 1.5310 1.5429
Support 1.5055 1.4936 1.4868
Primary Scenario The pair has finally managed to penetrate the daily pivot point at 1.5123. A sustained trading above this level will trigger GBPUSD to target the resistance level at 1.5242 and further up to 1.5310.
Alternative Scenario On the other hand, a plunge of the pair below the daily pivot will push prices to find support at 1.5055.

USDCHF H4
Resistance 0.9907 0.9987 1.0031
Support 0.9783 0.9739 0.9659
Primary Scenario USDCHF is following a downtrend. Further drop of the market will lead the pair to hit the support level at 0.9783 and even lower to 0.9739.
Alternative Scenario Should the pair manage to exceed the daily pivot (0.9863), the next resistance is seen at 0.9907. RSI supports this outlook.

USDJPY H4
Resistance 121.74 122.06 122.47
Support 121.44 121.06 120.53
Primary Scenario The USDJPY pair pummeled in the previous session. A decisive movement to the south will push the exchange rate to breach the support at 121.44, targeting the forthcoming support level at 121.06. RSI is trading within the oversold territory.
Alternative Scenario Alternatively, a higher thrust of the pair above the barrier at 121.74 will lift the market towards 122.06.

AUDUSD H4
Resistance 0.7257 0.7287 0.7330
Support 0.7184 0.7141 0.7110
Primary Scenario AUDUSD turned sharply bullish in today’s session. If the pair manages to surpass the resistance at 0.7287, the next resistance is seen at 0.7330.
Alternative Scenario. A comeback of the currency pair will push the market to breach the support at 0.7257, with immediate target the daily pivot at 0.7214.

 

Article by ForexTime

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