USDJPY Analysis.
After consolidation, USDJPY breaks above 94.05 previous high resistance and continues its upward movement form 79.07 (Nov 9, 2012 low). Further rise could be expected in a couple of days, and next target would be at 96.00 area. Support is at 93.30, only break below this level could indicate that lengthier consolidation of the uptrend is underway, then deeper decline to 92.00 area could be seen.
GBPUSD Analysis.
GBPUSD stays in a trading range between 1.5630 and 1.5900. Key resistance is at 1.5900, as long as this level holds, the price action in the range could be treated as consolidation of the downtrend from 1.6339, further decline to 1.5500 area is still possible after consolidation. On the upside, a break above 1.5900 will indicate that the downward move from 1.6339 is complete, then another rise towards 1.6500 could be seen.
EURUSD Analysis.
EURUSD stays below a downward trend line on 4-hour chart, and remains in short term downtrend from 1.3711. As long as the trend line resistance holds, the downtrend could be expected to continue and next target would be at 1.3250 area. On the upside, a clear break above the trend line resistance will suggest that a cycle bottom is being formed, then another rise towards 1.4000 could be expected to follow.
AUDUSD Analysis.
AUDUSD’s downward movement from 1.0597 extends to as low as 1.0248. Key resistance is located at the trend line on 4-hour chart, as long as the trend line resistance holds, the downtrend could be expected to continue, and next target would be at 1.0200 area, only a clear beak above the trend line resistance could signal completion of the downtrend.
USDCHF Analysis.
USDCHF’s bounce from 0.9021 extends to as high as 0.9212. Further rise is still possible and next target would be at 0.9250 area. Support is at 0.9100, only break below this level could trigger another fall to 0.8950 zone.
USDCAD Analysis.
USDCAD is facing 1.0100 resistance, as long as this level holds, the rise from 0.9932 is treated as correction of the downtrend from 1.0100, and another fall towards 0.9800 is still possible, only break above 1.0100 could trigger another rise towards 1.0300.
