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A tremendous movement led USDJPY into a new bullish outlook.

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EURUSD Technical AnalysisEURUSDH4Down Trend
Resistance1.14291.15431.1602
Support1.12551.11961.1081
Primary ScenarioEURUSD is revolving around the daily pivot at 1.1370. A desicive movement to the south will push prices to find support at 1.1255 and further down to 1.1196.
Alternative ScenarioAlternatively, should the pair manage to exceed the daily pivot, it will target the resistance level at 1.1429.

 

EURUSDH4

GBPUSD Technical AnalysisGBPUSDH4Down Trend
Resistance1.53241.54081.5465
Support1.51831.51261.5042
Primary ScenarioThe pair edged up at 1.5351, before closing below the daily pivot point at 1.5267. Further drop of the exchange rate will bring GBPUSD into deeper correction towards the support levels at 1.5183 and 1.5126.
Alternative ScenarioIf the pair manages to penetrate the daily pivot, it will fuel the market further towards the resistance level at 1.5324.

 

GBPUSDH4

USDCHF Technical AnalysisUSDCHFH4Up Trend
Resistance0.93040.93520.9417
Support0.91900.91250.9077
Primary ScenarioUSDCHF is gyrating the daily pivot (0.9239). An upward wave would trigger the market to retest the resistance level at 0.9304 and even higher at 0.9352.
Alternative ScenarioA plunge of the pair below the daily pivot point will lead the currency rate down to 0.9190.

 

USDCHFH4

USDJPY Technical AnalysisUSDJPYH4Up Trend
Resistance119.21119.88120.65
Support118.72118.20117.87
Primary ScenarioA tremendous movement to the north, led USDJPY into a bullish outlook. If the pair manages to extend its uptrend, it will eye the resistance levels at 119.21 and 119.88.
Alternative ScenarioA drop of the market below the support at 118.72, will most likely bring the market into a correction phase towards the forthcoming support at 118.20.

 

USDJPYH4

AUDUSD Technical AnalysiAUDUSDH4Down Trend
Resistance0.78520.79110.7948
Support0.77550.77180.7659
Primary ScenarioAUDUSD is now testing the barrier at 0.7755. Any purposeful downward movement will open the way down to the next target at 0.7718 and then lower at 0.7659.
Alternative ScenarioIf the bears fail to move lower, the next resistance is seen at the daily pivot at 0.7815 and further up at 0.7852.

 

AUDUSDH4

The post A tremendous movement led USDJPY into a new bullish outlook. appeared first on Forex Circles.

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