USDJPY remains in uptrend from 87.37 and the fall from 93.21 is more likely consolidation of uptrend. Support is at 91.90 followed by the rising trend line from 87.37 to 88.97. As long as the trend line support holds, we’d expect uptrend to resume and one more rise towards 94.00 is still possible. However, a clear break below the trend line support will indicate that a short term cycle top has been formed at 93.21 on 4-hour chart, and the rise from 87.37 has completed.
AUDUSD continues its uptrend from 0.8734 and the rise extends to as high as 0.9161. Further rally is still possible later today and next target is to test 0.9193 resistance. Support is now located at the rising trend line on 4-hour chart. Only fall below the trend line could take price back to downward trend.
EURUSD continues its rang trading between 1.4218 and 1.4457. As long as 1.4457 resistance holds, one more fall towards 1.4100 is still possible. However, above 1.4457 will indicate that the fall from 1.5144 has completed at 1.4218 already, then further rally could be seen to 1.4500 or even higher.
USDCHF dropped below 1.0278 previous low. Another fall is now in favor and next target would be at 1.0200 area. Resistance is located at the upper border of the falling price channel on 4-hour chart, as long as the channel resistance holds, downtrend will continue.
GBPUSD might be forming a short term cycle top at 1.6238 level on 4-hour chart. Key support is located at 1.6040, a breakdown below this level will confirm the cycle top and signal resumption of downtrend.
USDCAD broke below 1.0365 support. Another fall is now in favor and next target would be at 1.0300 area. Resistance is at 1.0450, as long as this level holds, downtrend from 1.0576 could be expected to continue.