USDJPY Analysis.
USDJPY’s rise from 95.81 extends to as high as 98.34. Further rise to test the resistance of the downward trend line would likely be seen, as long as the trend line resistance holds, the rise from 95.81 could be treated as consolidation of the downtrend from 101.53, another fall to 95.00 to completed the downward movement is still possible. On the upside, a clear break above the trend line resistance will indicate that the downtrend from 101.53 had completed at 95.81 already, then further rise to test 103.73 (May 22 high) resistance could be seen.
USDCHF Analysis.
USDCHF breaks above the upper line of the price channel on 4-hour chart, suggesting that the downtrend from 0.9751 had completed at 0.9174 already. Further rise would likely be seen, and next target would be at 0.9400 area. Support is at 0.9240, only break below this level could trigger another fall towards 0.9000.
AUDUSD Analysis.
AUDUSD fails to break above 0.9317 resistance, and stays in a trading range between 0.8847 and 0.9317. Key resistance is at 0.9317, as long as this level holds, the price action from 0.8847 could be treated as consolidation of the downtrend from 1.0582 (Apr 11 high), one more fall towards 0.8500 is still possible after consolidation. On the upside, a break above 0.9317 resistance will indicate that the downtrend from 1.0582 had completed at 0.8847 already, then the following upward movement could bring price to 1.0000 zone.
USDCAD Analysis.
USDCAD fails to break below 1.0245 support and stays in a trading range between 1.0245 and 1.0445. Further rise to test 1.0445 resistance would likely be seen in a couple of days. Support is now at 1.0275, only break below this level could trigger another fall to 1.0150 zone.
EURUSD Analysis.
EURUSD breaks below the lower line of the price channel on 4-hour chart, suggesting that the uptrend from 1.2756 had completed at 1.3400 already. Deeper decline would likely be seen, and next target would be at 1.3150 area. Resistance is at 1.3320, only break above this level could trigger another rise towards 1.3500 zone.
GBPUSD Analysis.
GBPUSD remains in uptrend from 1.5102, the fall from 1.5574 is treated as consolidation of the uptrend. Another rise could be expected after consolidation, and next target would be at 1.5650 area. Support is at 1.5390, only break below this level could bring price back to 1.5200 zone.
