Key resistance at 122.70 is broken above, USDJPY bottomed at 122.09 on 4 hours chart. Further rise towards 124.13 previous high is expected to follow in the next several days. Near term support is at 122.09, only break below this level will delay the resumption of the up trend.
No changed in our view, USDCHF is in down trend, the rise from 1.2090 is treated as consolidation to the down trend, further fall towards 1.1993 (April low) is still in favor after consolidation. Near term resistance is at the down trend line from 1.2426 to 1.2341, as long as the trend line resistance holds, down trend will continue.
GBPUSD is in up trend, the rise from 1.9622 extended to as high as 2.0206, sideways consolidation is expected and pullback towards the up trend line from 1.9657 to 1.9928 will be seen in a couple of days. Near term support is at the up trend line, as long as the trend line support holds, up trend will continue.
No changed in our view, USDCAD bottomed at 1.0468 on 4 hours chart. The fall from 1.1875 (February high) might completed at 1.0468 level, rise towards 1.0757 is expected to follow in the next several days, and we are waiting for the breaking above 1.0757 level to confirm the long term up trend.
EURUSD is forming a short term cycle top at 1.3637 on 4 hours chart. Sideways consolidation is expected to follow before break above 1.3637. A break above 1.3637 level will signal the resumption of the up trend, and rise towards 1.3700 level will be seen.
No changed in our view, AUDUSD is in up trend, the fall from 0.8598 is treated as consolidation to the up trend, and further rise towards 0.8700 is expected to follow after consolidation. Near term support is at 0.8538 and followed by 0.8505 level.