USDJPY stays below a downtrend line on 4-hour chart, and remains in short term downtrend from 77.85. As long as the trend line resistance holds, downtrend could be expected to continue, and on more fall to test 75.96 support is still possible, a breakdown below this level could signal resumption of the long term downtrend from 124.16 (2007 high). On the other side, a clear break above the trend line resistance will indicate that the fall from 77.85 is complete, and lengthier consolidation of the longer term downtrend from 85.51 is underway.
EURUSD broke below 1.3499 support and is now in downtrend from 1.3936, the price action from 1.3386 is treated as consolidation of downtrend. Resistance is at 1.3600, as long as this level holds, we’d expected downtrend to resume, and another fall towards 1.3200 is still possible. However, a break above 1.3600 will indicate that lengthier consolidation of downtrend from 1.4548 is underway, then further rally could be seen to 1.3800 zone.
AUDUSD may be forming a cycle bottom at 0.9670 on 4-hour chart. Range trading between 0.9670 and 0.9950 would likely be seen. Resistance remains at the downtrend line, as long as the trend line resistance holds, the rise from 0.9670 is treated as consolidation of downtrend, another fall towards 0.9000 is still possible after consolidation.
GBPUSD stays below a downtrend line on 4-hour chart, and remains in downtrend from 1.6453, the rise from 1.5327 is likely consolidation of downtrend. As long as the trend line resistance holds, downtrend could be expected to continue, and next target would be at 1.5200.
USDCAD is forming a cycle top at 1.0360 on 4-hour chart. Range trading between 1.0150 and 1.0360 would likely be seen in next several days. However, the fall from 1.0360 is treated as consolidation of uptrend, another rise is still possible after consolidation, and a break above 1.0360 could signal resumption of uptrend.
USDCHF remains in uptrend from 0.8648, the fall from 0.9181 is treated as consolidation of uptrend. Support is at 0.8995, as long as this level holds, uptrend could be expected to resume, and further rise to
0.9500 is still possible. On the downside, a breakdown below 0.8995 will indicate that a cycle top has been formed at 0.9181 on 4-hour chart, then pullback to 0.8850-0.8900 area could be seen.