EURUSD Analysis.
EURUSD is forming a sideways consolidation in a range between 1.3191 and 1.3436. Further rally is expected to 1.3500 zone after consolidation. Initial support is at the lower border of the price channel on 4-hour chart and key support is now located at 1.3191, a break down below this level will indicate that the uptrend from 1.2884 has completed at 1.3436 level already, and the following downtrend will take price back to 1.3000-1.3050 area.

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USDCHF Analysis.
USDCHF rebounds from 1.1245, suggesting that the pair is back to range trading between 1.1245 and 1.1432. The price action in the trading range is treated as consolidation of the downtrend from 1.1602, deeper decline is still possible to 1.1150-1.1200 area after consolidation. Key resistance is now at 1.1432, above this level will indicate that the fall from 1.1602 has completed, and then further rally could be seen to 1.1550 zone.

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USDCAD Analysis.
USDCAD stays below the falling trend line from 1.2265 to 1.1898 and remains in downtrend from 1.2265. The 1.1761 (Jan 6 low) support is broken below. Further fall is still in favor. The next target will be at 1.1500 zone. Initial resistance is at the falling trend line, and key resistance is now at 1.1898, only rise above this level will indicate that a short term cycle bottom has been formed, and consolidation of the downtrend from 1.2504 could be seen to follow.

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USDJPY Analysis.
USDJPY remains in short term uptrend from 95.62 and is testing 99.74 resistance, above this level will signal further rally to 100.00-100.50 area. Initial support is at 98.90 followed by 98.50. As long as 98.90 support holds, we’d expect uptrend to continue. However, below 98.50 will suggest that a short term cycle top has been formed and range trading between 98.00 and 100.00 is expected to follow.

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USDJPY Analysis.
USDJPY breaks above the previously mentioned price channel resistance, suggesting that a short term cycle bottom has been formed at 95.62 level on 4-hour chart and the downtrend from 101.43 has completed. Further rally is still possible to test 99.74 resistance later today. Near term support is at 98.50 followed by 98.00, as long as 98.00 level holds, we’d expect the short term uptrend from 95.62 to continue.

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