USDJPY Analysis.
USDJPY bounce strongly to as high as 81.84. Further rise is still possible, and next target would be at 82.50 area. Initial support is at 80.90, only break below this level could indicate that a minor consolidation of uptrend is underway, then pullback to 80.00-80.50 zone could be seen.
GBPUSD Analysis.
GBPUSD failed to break below 1.5962 key support, suggesting lengthier consolidation in a range between 1.5962 and 1.6343 is underway. Further rally would likely be seen later today, target would be at 1.6270 area.
USDCHF Analysis.
USDCHF had formed a cycle bottom at 0.8922 level on 4-hour chart. However, the bounce from 0.8922 is likely consolidation of downtrend from 0.9368. Another fall towards 0.8700 is still possible after consolidation.
EURUSD Analysis.
EURUSD broke above 1.4035 resistance, suggesting that the uptrend from 1.3428 has resumed. Further rise is expected later today, and next target would be at 1.4200 area. Support is at 1.3975, only break below this level could indicate that the rise from 1.3752 is complete.
AUDUSD Analysis.
AUDUSD bounced strongly from 0.9704, suggesting that a cycle bottom had been formed on 4-hour chart, and the fall from 1.0201 had completed. Further rally could be expected in a couple of days, and next target would be at 1.0000 area.
USDCAD Analysis.
USDCAD failed to break above 0.9973 resistance, and pulled back to 0.9807 support, below this level could indicate that the downtrend from 1.0851 (May 25, 2010 high) has resumed, then deeper decline towards 0.9500 could be seen.
