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USDJPY: Correction course.

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EURUSD Technical AnalysisEURUSDH4Up Trend
Primary ScenarioEURUSD is oscillating around the daily pivot point at 1.1194. A decisive movement to the north will lead the pair to retest the hurdle at 1.1228. A successful attempt to surpass this level will most likely trigger the market to hit the forthcoming resistance at 1.1274.
Alternative ScenarioA plunge of the market below the daily pivot will push prices to find support at 1.1148.



GBPUSD Technical AnalysisGBPUSDH4Up Trend
Primary ScenarioThe pair has recovered from the previous bottom and it is now heading towards the resistance level at 1.5411. If GBPUSD manages to withhold the sellers’ pressure, it will climb towards the next target at 1.5458.
Alternative ScenarioA setback of the exchange rate will push prices below the daily pivot (1.5381) and further down to 1.5333.



USDCHF Technical AnalysisUSDCHFH4Up Trend
Primary ScenarioUSDCHF is pivoting around the daily pivot at 0.9560. If the pair manages to extend its uptrend, it will gain momentum to target the resistances at 0.9608 and 0.9637.
Alternative ScenarioA drop of the pair below the daily pivot will open the way down to 0.9540.



USDJPY Technical AnalysisUSDJPYH4Up Trend
Primary ScenarioUSDJPY is now on the correction course process. An upward wave would push the pair to test the resistance level at 119.94 and even higher at 120.47.
Alternative ScenarioA comeback of the currency pair will lead the pair to breach the support at 119.58. The next support is seen at 119.34.



AUDUSD Technical AnalysiAUDUSDH4Up Trend
Primary ScenarioA strong movement led AUDUSD to clear the resistance levels at 0.7794 and 0.7826. Further increase of the price will trigger the market to penetrate the resistance level at 0.7846. The next resistance is estimated at 0.7851 (Fibonacci resistance level 161.8%).
Alternative ScenarioA reversal back below the support level at 0.7826 will push prices to find support at 0.7794.



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