USDJPY Analysis.
USDJPY stays in a trading range between 89.53 and 91.08. Another fall to test 89.63 would more likely be seen later today. As long as this level holds, the price action in the trading range is treated as consolidation of uptrend from 88.14 and one more rise to 91.50-92.00 area could be expected after consolidation. However, below 89.63 will suggest that the bounce from 88.14 has completed at 91.08 already, then the following downward movement could bring price to 87.00 area.
AUDUSD Analysis.
AUDUSD’s upward movement extends to as high as 0.9250 and remains in uptrend. However, now the pair is facing the upper border of the price channel on 4-hour chart, minor consolidation is expected later today. As long as the channel support holds, another rise to 93.00 could be seen after consolidation, a break above 0.9250 could signal resumption of uptrend.
EURUSD Analysis.
EURUSD pulled back from 1.3817, suggesting range trading between 1.3642 and 1.3817 is underway. Lengthier consolidation in the trading range is expected in a couple of days. As long as the lower border of the price channel holds, another rise to 1.4000 area is possible. However, a clear break below the channel support will indicate that the bounce from 1.3435 has completed, then the following downtrend could bring price to 1.3200-1.3300 area.
GBPUSD Analysis.
GBPUSD’s bounce extends to as high as 1.5382 level. Further rally is still possible later today and next target would be at 1.5500-1.5600 area. Initial support is at 1.5200 and key support is at 1.4977, only fall below these levels could trigger another fall towards 1.4500 area.
USDCAD Analysis.
USDCAD continues its downward movement from 1.0679 and the fall extended to as low as 1.0070 level. Deeper decline is still in favor after a minor consolidation and next target would be at 1.0000 area. Resistances are at 1.0150 and 1.0231.
USDCHF Analysis.
No changed in our view, USDCHF remains in downtrend and the fall from 1.0887 extends to as low as 1.0506 level. Deeper decline is still in favor and next target would be at 1.0450 area. Resistance is at 1.0639, as long as this level holds, downtrend may be expected to continue.
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