USDJPY Analysis.
USDJPY broke below 88.00 key support, suggesting that a cycle top has been formed at 89.15 level on 4-hour chart. Now the fall from 89.15 is treated as resumption of downtrend from 92.88 (Jun 4 high). Deeper decline is still possible later today and next target would be at 86.00 area. Key resistance is now at 88.00, only rise above this level could indicate that lengthier consolidation of downtrend is underway, then range trading between 86.96 and 89.15 could be seen.
GBPUSD Analysis.
GBPUSD’s upwards movement from 1.4230 (May 20 low) extends to 1.5471 level. Further rise to test 1.5522 (Apr 15 high) key resistance is still possible later today. Support is at 1.5360, as long as this level holds, uptrend from 1.4948 will continue.
EURUSD Analysis.
EURUSD breaks above the upper boundary of the rising price channel on 4-hour chart and the rise from 1.1876 (Jun 7 low) extends to as high as 1.2954 level. Further rally is still possible later today and next target would be at 1.3100 area. Support is at 1.2860 followed by 1.2800, as long as these levels hold, uptrend could be expected to continue.
USDCHF Analysis.
USDCHF broke below 1.0480 support and downtrend from 1.1730 had resumed. Further fall to 1.0300 area is expected later today. Resistance is at 1.0500, only break above this level could bring price to sideways movement in a range between 1.0400 and 1.0600.
USDCAD Analysis.
USDCAD broke above 1.0385 key resistance and formed a cycle bottom at 1.0276 level on 4-hour chart. Now the pair is in correction of downtrend from 1.0676. Bounce to 1.0500 to reach next cycle top would more likely be seen. Key support is at 1.0276, a breakdown below this level could trigger another fall towards 1.0138 support.
AUDUSD Analysis.
AUDUSD remains in uptrend from 0.8315. As long as 0.8682 key support holds, another rise to 0.9000 area is still possible. However, below 0.8682 support will suggest that uptrend from 0.8315 is complete.
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