USDJPY is still under pressure.

April 7, 2016

Article by ForexTime

EURUSD H4
Resistance 1.1444 1.1490 1.1549
Support 1.1339 1.1280 1.1234
Primary Scenario EURUSD has experienced strong resistance in the zone above the daily pivot (1.1385). A successful attempt to surpass the hurdle at 1.1444 will fuel the pair further towards the forthcoming resistance at 1.1490.
Alternative Scenario A reversal back below the daily pivot point will pave the path down to 1.1339.

GBPUSD H4
Resistance 1.4192 1.4264 1.4358
Support 1.4026 1.3932 1.3860
Primary Scenario The pair bounced up from the previous low and is now negotiating slightly above the daily pivot at 1.4192. If GBPUSD manages to withstand the sellers’ pressure, it will climb towards the resistance levels at 1.4192 and 1.4264.
Alternative Scenario Alternatively, if the market plunges below the daily pivot, the currency pair will find support at 1.4026.

USDCHF H4
Resistance 0.9607 0.9660 0.9698
Support 0.9516 0.9477 0.9424
Primary Scenario USDCHF is hovering narrowly below the daily pivot at 0.9568. Any forceful attempt to move downwards will lead the pair to hit the support level at 0.9516 and even lower at 0.9477.
Alternative Scenario An upward wave would eliminate the daily pivot point, with immediate target the resistance at 0.9607.

USDJPY H4
Resistance 109.67 110.38 111.06
Support 108.98 108.32 107.55
Primary Scenario The USDJPY pair is still under pressure. Any decisive movement below the key support at 107.98 will open the way down to 108.32 and further down to 107.55.
Alternative Scenario On the other hand, a higher thrust of the exchange rate will lift the market towards 109.67 and then higher at 110.38. RSI oscillator supports this scenario.

AUDUSD H4
Resistance 0.7633 0.7669 0.7719
Support 0.7546 0.7496 0.7460
Primary Scenario AUDUSD is heading towards the hurdle at 0.7633. If the pair manages to exceed this level, it will target the next resistance at 0.7669 and further up to 0.7719.
Alternative Scenario A comeback of the currency pair below the daily pivot (0.7582) will push prices to find support at 0.7546.

 

Article by ForexTime

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