USDJPY Analysis.
USDJPY consolidated below 84.40 previous high resistance and pulled back to as low as 83.45 level. Another rise to test 84.40 is expected later today, a break above this level will indicate that the uptrend from 80.30 has resumed, then further rise to 85.50 area could be seen. Support is at 83.45, only break below this level could bring price back to 82.00 zone.
EURUSD Analysis.
EURUSD stays in a price channel on 4-hour chart and remains in short term downtrend from 1.3437. Deeper decline to 1.3100 area to reach next cycle bottom is still possible. Resistance is at the upper border of the channel, now at 1.3270, only a clear break above the channel resistance could indicate that the fall from 1.3437 has completed.
GBPUSD Analysis.
GBPUSD’s bounce from 1.5484 extended to as high as 1.5861 level. Initial support is at 1.5710, as long as this level holds, uptrend is expected to continue and next target would be at 1.5900-1.5950 area. Key support is at 1.5655, only break below this level could indicate that the rise from 1.5484 is complete.
AUDUSD Analysis.
AUDUSD moved sideways in a range between 0.9752 and 0.9964. Pullback to 0.9650-0.9700 area to reach next cycle bottom would likely be seen. Key resistance is at 0.9964, only break above this level could trigger another rise towards 1.0182 previous high.
USDCHF Analysis.
USDCHF stays in a trading range between 0.9725 and 0.9914. Another rise towards 1.0066 would likely be seen. Key support is at 0.9725, only break below this level could trigger another fall to 0.9650 area.
USDCAD Analysis.
USDCAD traded in a narrow range between 1.0063 and 1.0140. Another rise to 1.0200 would likely be seen later today, a break above 1.0140 could signal resumption of uptrend. Support is at 1.0063, only break below this level could indicate that the rise from 1.0002 has completed at 1.0140 already, then deeper decline towards 0.9977 could be seen.
