USDJPY broke above 100.00 resistance and reaches as high as 100.48, suggesting that the downward movement from 101.53 had completed. Further rise to test 101.53 resistance could be expected in a couple of days, a break above this level will indicate that the uptrend from 93.79 has resume, then the following upward movement could bring price to 110.00 area. On the downside, as long as 101.53 resistance holds, the rise from 98.27 would possibly be correction of the downtrend from 101.53, one more fall to 95.00 to compete the downward move is still possible.
USDCAD breaks above 1.0440 resistance, suggesting that lengthier correction of the downtrend from 1.0608 is underway. Further rally could be expected, and the target would be at 1.0480 – 1.0500 area. Support is now at 1.0380, only break below this level could trigger another fall towards 1.0150.
AUDUSD remains in downtrend from 1.0582 (Apr 11 high). As long as 0.9305 key resistance holds, the downtrend could be expected to continue, and next target would be at 0.8900, only break above 0.9305 resistance could signal completion of the downtrend.
USDCHF stays in a trading range between 0.9405 and 0.9535. Initial resistance is at 0.9535, as long as this level holds, the price action in the range could be treated as consolidation of the downtrend from 0.9751, another fall towards 0.9200 is still possible after consolidation. On the upside, a break above 0.9535 resistance will indicate that lengthier correction of the downtrend is underway, then further rally to 0.9600 area could be seen.
No changed in our view, EURUSD remains in uptrend from 1.2756, the fall from 1.3206 is likely correction of the uptrend. Support is at 1.2950, as long as this level holds, the uptrend could be expected to resume, and another rise towards 1.3500 is still possible.
GBPUSD remains in uptrend from 1.4813, the fall from 1.5222 is likely consolidation of the uptrend. Key support is at 1.4900, as long as this level holds, the uptrend could be expected to resume, and one more rise to 1.5400 area is still possible, only break below 1.4900 support could signal completion of the uptrend.