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USDJPY: The bearish outlook remains in effect.

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EURUSD Technical Analysis EURUSD H4 Up Trend
Resistance 1.0843 1.0926 1.1036
Support 1.0650 1.0541 1.0458
Primary Scenario EURUSD has successfully penetrated the daily pivot (1.0734) – a key resistance. If the pair manages to withhold the sellers’ pressure, it will climb towards the resistance level at 1.0843 and even higher at 1.0926.
Alternative Scenario Should the pair manage to break back below the daily pivot, the next support is seen at 1.0650.



GBPUSD Technical Analysis GBPUSD H4 Up Trend
Resistance 1.4996 1.5061 1.5153
Support 1.4838 1.4746 1.4681
Primary Scenario The pair is following an uptrend. A persistent trading above the daily pivot at 1.4904 will most likely generate strength for the market to target the resistance level at 1.4996 and then higher at 1.5061.
Alternative Scenario Alternatively, a tumble of GBPUSD below the daily pivot will push the pair to hit the support level at 1.4838.




USDCHF Technical Analysis USDCHF H4 Down Trend
Resistance 0.9664 0.9773 0.9835
Support 0.9493 0.9430 0.9322
Primary Scenario USDCHF is following a bearish sentiment and it is now negotiating below the daily pivot point at 0.9601. A decisive movement to the south will push prices to find support at 0.9493 and further down to 0.9430.
Alternative Scenario An upside momentum would bring the exchange rate into a correction course, exceeding the daily pivot and targeting the resistance at 0.9664.



USDJPY Technical Analysis USDJPY H4 Down Trend
Resistance 119.13 119.43 119.72
Support 118.78 118.32 117.82
Primary Scenario The bearish outlook remains in effect. If USDJPY manages to extend its downtrend, it will violate the support level at 118.78. The next support is estimated at 118.32.
Alternative Scenario A higher thrust of the market will lift the pair towards the resistance levels at 119.13 and 119.43.



AUDUSD Technical Analysi AUDUSD H4 Up Trend
Resistance 0.7858 0.7914 0.8007
Support 0.7708 0.7615 0.7559
Primary Scenario AUDUSD indicated bullish implications, after successfully surpassing the daily pivot point at 0.7765. A sustained trading above this level will trigger the market to target the forthcoming resistance levels at 0.7858 and 0.7914.
Alternative Scenario A reversal back below the daily pivot will open the way down to 0.7708.



The post USDJPY: The bearish outlook remains in effect. appeared first on Forex Circles.

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