USDJPY Analysis.
As expected, USDJPY breaks above 105.70 (May 2 high) resistance. Further rally to 106.60 area to reach the next cycle top on 4-hour chart is still possible, and the next cycle top is nearing. Key support is now located at 104.45, a break of this level will indicate that the up trend from 102.73 has completed, and then pullback to retest 102.73 is expected to follow.

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GBPUSD Analysis.
GBPUSD formed a short term cycle top at 1.9852 and is in consolidation to the up trend. Pullback to test the up trend line from 1.9363 to 1.9453 is still possible later today. Key resistance is located a 1.9852, a break of this level will indicate that consolidation from 1.9852 has completed and up trend resume, further rally to test 2.0029 resistance is expected to follow.

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GBPUSD Analysis.
GBPUSD broke below 1.9755 support and formed a short term cycle top at 1.9852 on 4-hour chart. The pair is now in correction to the up trend. Pullback to the up trend line from 1.9363 to 1.9463 is possible in a couple of days. As long as the trend line support holds, we’d expect up trend to resume and further rally to 1.9950 area could be seen after correction.

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GBPUSD Analysis.
GBPUSD formed a sideways consolidation in a range between 1.9755 and 1.9852. Further rise to 1.9950 area to reach the next short term cycle top is possible after consolidation. Only break of 1.9755 key support will indicate that a short term cycle top has been formed and pullback could be seen to test the support of the up trend line from 1.9363 to 1.9463.

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USDCHF Analysis.
USDCHF is in consolidation to the down trend. Rebound to test 1.9354 resistance is possible later today. As long as 1.9354 resistance holds, we’d expect down trend to resume and deeper decline to 1.0000 area could be seen after consolidation.

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USDCHF Analysis.
USDCHF rebounds from 1.0232 and is forming a short term cycle bottom on 4-hour chart. Sideways consolidation in a range between 1.0232 and 1.0390 is expected in a couple of days. Initial resistance is at 1.0390. Near term support is at 1.0232, a break of this level will signal resumption of the down trend.

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USDCHF Analysis.
USDCHF drops sharply to 1.0232 level. Deeper decline to 1.0000 area to reach the next short term cycle bottom on 4-hour chart is possible in a couple of days. Near term resistance is at 1.0325 and followed by 1.0390.

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GBPUSD Analysis.
GBPUSD breaks above 1.9633 key resistance, suggesting that the fall from 2.0391 (Mar 14 high) has completed at 1.9363 level. Further rise to 1.9850 area to reach the next short term cycle top is possible in a couple of days. Initial support is at 1.9453 and key support is now located at 1.9363, only break of this level will signal resumption of the down trend.

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EURUSD Analysis.
EURUSD pulls back from 1.5632 and might be forming a short term cycle top on 4-hour chart. Deeper decline to retest 1.5365 support is expected in a couple of days. As long as 1.5365 level holds, we’d expect up trend to resume and one more rise to 1.5700 area is still possible.

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AUDUSD Analysis.
AUDUSD breaks above the symmetrical triangle pattern and up trend resumes. Further rise to 0.9800 area to reach the next short term cycle top is expected. Initial support is at 0.9400 and followed by 0.9291.

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