USDJPY Analysis.
USDJPY’s upward movement from 92.56 extends to as high as 98.84. Support is now at 96.70, as long as this level holds, the uptrend could be expected to continue, and next target would be at 100.00 area. On the other side, a breakdown below 96.70 will suggest that a cycle top is being formed on 4-hour chart, then consolidation of the uptrend could be seen to follow.
EURUSD Analysis.
EURUSD’s rise from 1.2747 extended to as high as 1.3039 last Friday. Further rise is still possible in a couple of days, and next target would be at 1.3100 area. Support is at 1.2900, only break below this level will indicate that that the rise from 1.2747 has completed.
AUDUSD Analysis.
AUDUSD broke below 1.0385 support, and reaches as low as 1.0347. Further decline could be expected in a couple of days and next target would be at 1.3000 area. Key resistance is at 1.0496, only break above this level could signal resumption of the uptrend from 1.0115.
USDCHF Analysis.
USDCHF broke below 0.9352 support last Friday, suggesting that the uptrend from 0.9021 (Feb 1 low) had completed at 0.9567 already, and the pair is now in downtrend from 0.9567. Further decline could be expected in a couple of days, and next target would be at 0.9250 area. Resistance is at 0.9400, as long as this level holds, the downtrend will continue.
USDCAD Analysis.
USDCAD remains in downtrend from 1.0341, the price action from 1.0105 is treated as consolidation of the downtrend. Range trading between 1.0105 and 1.0235 would likely be in a couple of days. Resistance is at 1.0235, as long as this level holds, we’d expect downtrend to resume, and another fall to 1.0000 is still possible after consolidation.
GBPUSD Analysis.
GBPUSD broke above 1.5260 resistance last Friday, suggesting that the uptrend from 1.4831 has resumed. Further rise could be expected, and next target would be at 1.5500 area. Support is now at the upward trend line on 4-hour chart, as long as the trend line support holds, the uptrend will continue.
