USDJPY
As expected, USDJPY broke above 121.87 previous high. Further rise towards 122.18 (Jan 29 high) can be seen in a couple of days. Near term support is at the up trend line from 117.59 (Apr 19 low) to 119.46 (May 11 low), only break below the trend line support will signal the reversal of the up trend.
EURUSD
EURUSD is consolidation to the down trend, fall towards 1.3300 is still in favor after consolidation. Near term resistance is at the down trend line from 1.3609 to 1.3519, only break above the trend line resistance will signal the reversal to the down trend.
GBPUSD
No changed in our view, GBPUSD topped at 1.9899 on 4 hours chart. Fall towards 1.9676 previous low can be seen in a couple of days and a break below 1.9733 level will signal the resumption of the down trend. Near term resistance is at 1.9899, only break above this level will delay the resumption of the down trend.
USDCAD
USDCAD is in down trend. The fall from 1.1167 extended to as low as 1.0664, and further fall towards 1.0600 is still possible in a couple of days. Near term resistance is at the down trend line from 1.1167 to 1.0834, and followed by 1.1034, as long as 1.0834 resistance holds, down trend will continue.
AUDUSD
AUDUSD broke above 0.8267 previous high and bottomed at 0.8163 on 4 hours chart. Further rise towards 0.8351 (May 14 high) to reach the next cycle top can be seen in a couple of days. Near term support is at 0.8215 and key support is at 0.8163 level.
USDCHF
No changed in our view, USDCHF is bottoming at 1.2199 on 4 hours chart, key resistance is at 1.2306, a break above this level will confirm the cycle bottom. Near term support is at 1.2199, only fall below this level will delay the resumption of the up trend.
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