Overview
From the shown H4 chart, the pair failed more than once to break the Support level 156.70 and is still trading above it since yesterday. From the today's H4 chart the pair bounced from the Support area again and started to take a slightly upward move approaching the Resistance level 158.00. Currently it is preferred to wait till closing above this Resistance level before making the decision and in this case we will get more bullish signals with the first target few pips below the next Resistance level 150.50 then 158.70 as the second target. But closing below the Resistance level 158.00 cancels the bullish move scenario.
Resistance and support levels: R3 (159.50) R2 (158.70) R1 (158.00), S1 (156.70), S2 (156.00), S3 (155.20).
