USDJPY is trading near the previous low (107.60).

April 11, 2016

Article by ForexTime

EURUSD H4
Resistance 1.1426 1.1457 1.1496
Support 1.1356 1.1317 1.1286
Primary Scenario EURUSD is now poised to penetrate the important resistance level at 1.1426. If that happens, the next resistance is seen at 1.1457 and even higher at 1.1496.
Alternative Scenario A comeback of the exchange rate below the daily pivot (1.1387) will pave the way down to 1.1356.

GBPUSD H4
Resistance 1.4163 1.4201 1.4263
Support 1.4063 1.4001 1.3963
Primary Scenario The pair is heading towards the hurdle at 1.4163. A successful attempt to surpass this level will fuel the pair to hit the next resistance level at 1.4201 and then higher at 1.4263.
Alternative Scenario Alternatively, a plunge of the market below the daily pivot at 1.4101 will push GBPUSD to find support at 1.4063.

USDCHF H4
Resistance 0.9567 0.9603 0.9624
Support 0.9510 0.9488 0.9453
Primary Scenario USDCHF is still following a downtrend. A decisive movement below the key support at 0.9510 will open the way down to 0.9488.
Alternative Scenario An upward wave would lift the exchange rate above the daily pivot (0.9546), with immediate target the resistance at 0.9567.

USDJPY H4
Resistance 108.31 109.11 109.90
Support 107.60 106.90 106.22
Primary Scenario The USDJPY pair is trading near the previous low at 107.60. A break back below this level will lead the market to target the forthcoming support at 106.90 and further down to 106.22.
Alternative Scenario On the other hand, a surge of the pair above the hurdle at 108.31 will bring the exchange rate into a correction course, targeting the resistance level at 109.11. RSI oscillator supports this outlook.

AUDUSD H4
Resistance 0.7586 0.7622 0.7665
Support 0.7507 0.7463 0.7427
Primary Scenario AUDUSD is oscillating around the daily pivot point at 0.7542. If the pair manages to withstand the sellers’ pressure, it will eliminate the barrier at 0.7586, climbing towards the resistance level at 0.7622.
Alternative Scenario A tumble of the market below the daily pivot will push the pair to find support at 0.7507.

 

Article by ForexTime

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