USDJPY Analysis.
USDJPY may be forming a cycle bottom at 95.83 on 4-hour chart. Further rise to test 99.94 previous high resistance would likely be seen, a break above this level will indicate that the uptrend from 77.14 (Sep 13, 2012 low) has resumed, then another rise towards 105.00 could be seen. On the downside, as long as 99.94 resistance holds, the consolidation of the uptrend could be expected to continue, and one more fall to 94.00 – 94.50 area to complete the consolidation is still possible.
USDCHF Analysis.
USDCHF continues its downward movement from 0.9553, and reaches as low as 0.9207. Further decline is still possible after a minor consolidation, and next target would be at 0.9150 area. Resistance is at the downward trend line on 4-hour chart, only a clear break above the trend line resistance could signal completion of the downtrend.
GBPUSD Analysis.
GBPUSD remains in uptrend from 1.4831, the price action from 1.5363 is treated as consolidation of the uptrend. As long as 1.5411 resistance holds, the consolidation could be expected to continue, and one more fall to test the trend line support is still possible. On the upside, a break above 1.5411 resistance will indicate that the uptrend from 1.4831 has resumed, then next target would be at 1.5500 zone.
AUDUSD Analysis.
AUDUSD may be forming a cycle bottom at 1.0290 on 4-hour chart. Further rise would likely be seen, and next target would be at 1.0450 area. Support is at 1.0290, only break below this level could trigger another fall to 1.0200 zone.
USDCAD Analysis.
USDCAD is in correction of the downtrend from 1.0341. Further rise would likely be seen and the target would be at 1.0300 area. Support is at 1.0180, only break below this level could indicate that the rise from 1.0083 is complete.
EURUSD Analysis.
After consolidation, EURUSD breaks above 1.3138 resistance, and continues its upward movement from 1.2747. Further rise could be expected in a couple of days, and next target would be at 1.3300 area. Support is at the upward trend line on 4-hour chart, only a clear break below the trend line could signal completion of the uptrend.
