USDJPY Analysis.
USDJPY breaks below 97.80 support, suggesting that the upward movement from 96.94 had completed at 99.41 already. Further decline to test the support of the lower line of the price channel on 4-hour chart would likely be seen, a clear break below the channel support will signal resumption of the longer term downtrend from 100.60 (Sep 11 high), then the target would be at 93.00 area. On the upside, as long as the channel support holds, the price action from 99.00 would possibly be consolidation of the uptrend from 96.57, one more rise towards 100.00 area is sit possible after consolidation.
EURUSD Analysis.
EURUSD’s downward movement from 1.3832 extends to as low as 1.3296. Resistance is now at the downward trend line on 4-hour chart, as long as the trend line resistance holds, the downtrend could be expected to continue, and next target would be at 1.3200 area. On the upside, a clear break above the trend line resistance will suggest that the downward movement from 1.3832 had completed at 1.3296 already, then the following upward movement could bring price to 1.4000 zone.
GBPUSD Analysis.
GBPUSD stays in a trading range between 1.5894 and 1.6259. As long as 1.5894 support holds, the price action in the range could be treated as consolidation of the uptrend from 1.4813 (Jul 9 low), one more rise towards 1.6500 is still possible after consolidation. On the downside, a breakdown below 1.5894 support will indicate that the uptrend from 1.4813 had completed at 1.6259 already, then the following downward movement could bring price to 1.4500 zone.
AUDUSD Analysis.
AUDUSD is facing 0.9421 support, a breakdown below this level will signal resumption of the downtrend from 0.9756, then next target would be at 0.9200 area. Resistance is at 0.9580, only break above this level could trigger another rise towards 1.0000.
USDCHF Analysis.
USDCHF’s upward movement form 0.8890 extends to as high as 0.9249. Support is now at the upward trend line on 4-hour chart, as long as the trend line support holds, the uptrend could be expected to continue, and next target would be at 0.9400 area. On the downside, a clear break below the trend line support will indicate that the uptrend from 0.8890 had completed at 0.9249 already, then the following downward movement could bring price back to 0.8500 zone.
USDCAD Analysis.
USDCAD stays in a trading range between 1.0397 and 1.0496. Support is at 1.0397, as long as this level holds, the price action in the range could be treated as consolidation of the uptrend from 1.0271, one more rise towards 1.0650 is possible after consolidation. On the downside, a breakdown below 1.0397 support will indicate that lengthier consolidation of the longer term uptrend from 1.0182 (Sep 19 low) is underway, then the pair will find support at the lower line of the price channel on 4-hour chart.
