USDJPY Analysis.
USDJPY continues its sideways movement in a range between 96.86 and 98.70. Key support is located at 96.86, as long as this level holds, the price action in the range could be treated as consolidation of the uptrend from 93.79, one more rise to 100.00 area is still possible after consolidation. On the downside, a breakdown below 96.86 support will indicate that the upward movement from 93.79 had completed at 98.70 already, then the following downward movement could bring price back to 95.00 zone.
USDCAD Analysis.
USDCAD’s fall from 1.0556 extends to as low as 1.0427, suggesting that the uptrend from 1.0137 has completed. Deeper decline would likely be seen, and next target would be at 1.0350 area. Resistance is now at 1.0556, only break above this level could trigger another rise to 1.0600 zone.
USDCHF Analysis.
USDCHF continues its upward movement from 0.9130, and the rise extends to as high as 0.9443. Further rise could be expected, and next target would be at 0.9500 area. Key support is at 0.9310, only break below this level could signal completion of the uptrend.
EURUSD Analysis.
EURUSD’s downward movement from 1.3415 extends to as low as 1.2985. Further decline is still possible after a minor consolidation, and next target would be at 1.2950 area. Resistance is now at 1.3100, as long as this level holds, the downtrend will continue.
AUDUSD Analysis.
AUDUSD remains in downtrend from 1.0582 (Apr 11 high), the rise from 0.9148 could be treated as consolidation, and the downtrend. Further rise would likely be seen in a couple of days, and the target would be at the upper line of the price channel on 4-hour chart. As long as the channel resistance holds, the downtrend could be expected to resume, and one more fall towards 0.9000 is still possible.
GBPUSD Analysis.
GBPUSD continues its downward movement from 1.5751, and the fall extends to as low as 1.5298. Further decline is still possible, and next target would be at 1.5250 area. Resistance is at 1.5480, only break above this level could signal completion of the downtrend.
