USDJPY Analysis.
USDJPY remains in uptrend from 93.79, the fall from 100.85 could be treated as consolidation of the uptrend. Support is now located at the lower line of the price channel on 4-hour chart, as long as the channel support holds, the uptrend could be expected to resume, and one more rise to 102.00 area is still possible after consolidation. On the downside, a clear break below the channel support will suggest that the upward movement from 93,79 had completed at 100.85 already, then the following downward movement could bring price back to 95.00 – 96.00 area.
AUDUSD Analysis.
AUDUSD’s downward movement from 1.0582 (Apr 11 high) extends to as low as 0.9037. Further decline is still possible, and next target would be at 0.9000 area. Key resistance is located at the upper line of the price channel, only a clear break above the channel resistance could signal completion of the downtrend.
EURUSD Analysis.
EURUSD remains in downtrend from 1.3415, the rise from 1.2923 is likely consolidation of the downtrend. Resistance is now 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 to 1.2850 area is still possible. On the upside, a clear break above the channel resistance will suggest hat the downtrend from 1.3415 had completed at 1.2923 already, then the following upward movement could bring price to 1.3600 zone.
USDCAD Analysis.
USDCAD remains in uptrend from 1.0137, the price action from 1.0556 is likely consolidation of the uptrend. One more fall to the lower line of the price channel to complete to consolidation would likely be seen. As long as the channel support holds, the uptrend could be expected to resume, and another rise to 1.0600 area is still possible after consolidation.
USDCHF Analysis.
USDCHF remains in uptrend from 0.9130, the fall from 0.9529 is likely consolidation of the uptrend. Initial support is located at the lower line of the price channel on 4-hour chart, and the key support is at 0.9406, only break below this level could signal completion of the uptrend.
GBPUSD Analysis.
GBPUSD breaks above 1.5250 resistance, suggesting that the downtrend from 1.5751 has completed at 1.5130. Further rally is still possible, and next target would be at 1.5400 area. Key support is now at 1.5130, only break below this level could trigger another fall to 1.5050 zone.
