USDJPY is moving sideways, but still above the Kumo.

May 17, 2016

Article by ForexTime

EURUSD H4
Resistance 1.1339 1.1360 1.1379
Support 1.1299 1.1280 1.1259
Primary Scenario EURUSD has experienced strong resistance at the daily pivot area (1.1320). Any forceful attempt to breach the key support at 1.1299 will most likely push the pair to find support at 1.1280.
Alternative Scenario A successful attempt to exceed the daily pivot point will fuel the exchange rate towards 1.1339.

GBPUSD H4
Resistance 1.4431 1.4463 1.4513
Support 1.4349 1.4299 1.4267
Primary Scenario A strong bullish momentum led GBPUSD to clear the resistance levels at 1.4431 and 1.4463. Should the pair achieve to extend its momentum, the next resistance is seen at 1.4513 and even higher at 1.4545.
Alternative Scenario Alternatively, a comeback of the market will lead the rate down to 1.4463 and then lower at 1.4431.

USDCHF H4
Resistance 0.9791 0.9807 0.9830
Support 0.9751 0.9727 0.9711
Primary Scenario USDCHF has finally penetrated the daily pivot point at 0.9767. If the pair manages to withstand the sellers’ pressure, it will climb towards the resistance level at 0.9791 and then higher at 0.9807.
Alternative Scenario A reversal back below the daily pivot will open the way down to 0.9751.

USDJPY H4
Resistance 109.06 109.53 109.90
Support 108.86 108.44 107.90
Primary Scenario The pair is moving sideways, but still above the Kumo. A decisive movement to the north will lead the market above the barrier at 109.06, targeting the forthcoming resistance at 109.53.
Alternative Scenario On the other hand, a plunge of the exchange rate below the support at 108.86 will pave the path down to 108.44.

AUDUSD H4
Resistance 0.7314 0.7342 0.7376
Support 0.7252 0.7218 0.7190
Primary Scenario AUDUSD surged above the resistance levels at 0.7314 and 0.7342 in today’s session. Further increase of the prices will lift the exchange rate towards 0.7376 and further up to 0.7402.
Alternative Scenario A drop of the market below the support level at 0.7342 will push prices to find support at 0.7314.

 

Article by ForexTime

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