USDJPY bloodied in today’s session.

March 17, 2016

Article by ForexTime

EURUSD H4
Resistance 1.1283 1.1354 1.1467
Support 1.1099 1.0986 1.0914
Primary Scenario EURUSD surged above the daily pivot (1.1170) in the previous session. If the pair manages to extend its uptrend, it will target the next resistance level at 1.1283 and even higher at 1.1354.
Alternative Scenario A tumble of the market will push the pair down to the daily pivot and a further drop of the exchange rate would pave the path down to 1.1099.

GBPUSD H4
Resistance 1.4331 1.4412 1.4552
Support 1.4110 1.3971 1.3890
Primary Scenario A strong bullish momentum led GBPUSD to clear the resistance at 1.4110 and the daily pivot at 1.4192. Should the pair achieve to extent its momentum, it will climb towards the resistance levels at 1.4331 and then higher at 1.4412.
Alternative Scenario On the other hand, a comeback of the currency pair will put pressure to the market to find support at the daily pivot and further down to 1.4110.

USDCHF H4
Resistance 0.9879 0.9977 1.0042
Support 0.9715 0.9650 0.9552
Primary Scenario USDCHF collapsed in the previous session. If the bears manage to take control of the bulls, the next support is seen at 0.9715 and even lower at 0.9650.
Alternative Scenario An upward wave would lift the currency pair above the daily pivot, with immediate target the resistance at 0.9879.

USDJPY H4
Resistance 112.31 112.76 113.34
Support 111.92 111.51 111.03
Primary Scenario The pair bloodied in today’s session and led the market to a new bearish outlook. A successful violation of the key support at 111.92 will lead the pair underway towards the forthcoming support level at 111.51 and then lower at 111.03.
Alternative Scenario Alternatively, a higher thrust of USDJPY will fuel the pair above the hurdle at 112.31 and further up to 112.76.

AUDUSD H4
Resistance 0.7620 0.7678 0.7781
Support 0.7458 0.7355 0.7297
Primary Scenario AUDUSD is now testing the important resistance level at 0.7620. If the pair manages to penetrate this level, it will target the next resistance levels at 0.7678 and 0.7781.
Alternative Scenario A reversal back of the currency pair will push prices to find support at the daily pivot (0.7517) and then lower at 0.7458.

 

Article by ForexTime

ForexTime Ltd (FXTM) is an award winning international online forex broker regulated by CySEC 185/12 www.forextime.com

10 years ago