The down trend line from 122.17 to 121.34 is broken above, USDJPY bottomed at 119.94 on 4 hours chart, and the correction from 122.17 ended at 119.94. Further rise towards 122.00 is possible in the next several days. Near term support is at 120.55, and followed by 119.94, only break below 119.94 will signal the resumption of the down trend.
USDCHF failed to test the key support at 1.2374 and rebound from 1.2378, further rise above 1.2517 previous high can be expected in a couple of trading days. Key resistance is at 1.2571, a break above this level will signal the resumption of the up trend.
No change in our view, USDCAD is in up trend. Further rise towards 1.1950 is still possible in the next several days. Near term support is at 1.1805, only break below this level may delay the resumption of the up trend. Near term resistance is at 1.1874, a break above this level will signal the resumption of the up trend.
AUDUSD is moving higher to reach the next cycle top on 4 hours chart, and the cycle top is nearing, key support is at 0.7764, break below this level will confirm the cycle top. Near term resistance is at the top of the price channel, now at 0.7825.
EURUSD will move higher to test the key resistance at 1.3062, a break above this level indicate medium term bullish movement is underway, and further rise towards 1.3200 can be expected. Near term support is at the up trend line from 1.2911 to 1.2973, and followed by 1.2973, break below 1.2973 will pull price back towards 1.2911 level.
GBPUSD failed to test the previous high resistance at 1.9746 and pulled back from 1.9732 sharply reached 1.9541 low. Further fall below 1.9535 is still possible later today after a slightly correction. Near term support is at 1.9535, a break below this level will signal the resumption of the down trend.