USDJPY Analysis.
USDJPY’s upward movement from 92.56 extends to as high as 99.94. Further rise is still possible, and next target would be at 101.00 area. Support is at 98.35, as long as this level holds, the uptrend will continue. However, a breakdown below 98.35 will suggest that a cycle top is being formed on 4-hour chart, then deeper decline to 97.50 to complete the consolidation could be seen.
GBPUSD Analysis.
GBPUSD breaks above 1.5363 resistance and continues its upward movement from 1.4831. Further rise could be expected in a couple of days, and next target would be at 1.5500 area. Near term support is at 1.5290, and the key support is at the upward trend line on 4-hour chart, only a clear break below the trend line support could signal completion of the uptrend.
AUDUSD Analysis.
AUDUSD continues its upward movement from 1.0347, and the rise extends to as high as 1.0582. Further rise is still possible, and next target would be at 1.0650 area. Support is now at 1.0500, only break below this level will indicate that consolidation of the uptrend is underway, then pullback to 1.0450 area could be seen.
USDCAD Analysis.
USDCAD breaks below 1.0105 support, suggesting that the downtrend from 1.0341 has resumed. Further decline could be expected in a couple of days, and next target would be at 1.0000 area. Resistance is at 1.0150, as long as this level holds, the downtrend will continue.
EURUSD Analysis.
EURUSD continues its upward movement from 1.2747, and the rise extends to as high as 1.3138. Support is at 1.3040, as long as this level holds, another rise could be expected, and next target would be at 1.3200. On the downside, a breakdown below 1.3040 will suggest that consolidation of the uptrend is underway, then deeper decline to 1.2950 area is possible.
USDCHF Analysis.
USDCHF’s downward movement from 0.9553 extends to as low as 0.9278. Further decline is still possible, and next target would be at 0.9200 area. Resistance is at 0.9345, only break above this level will indicate that consolidation of the downtrend is underway, then further rise to 0.9400 area could be seen.
