USDJPY Analysis.
USDJPY stays above a rising trend line on 4-hour chart, and remains in uptrend from 80.58, the fall from 84.17 is treated as consolidation of the uptrend. Support is at the trend line, as long as the trend line support holds, uptrend could be expected to resume, and another rise towards 85.00 is still possible, only a clear break below the trend line could indicate that lengthier consolidation of the uptrend is underway, then sideways movement in a range between 82.50 and 84.17 could be seen.
GBPUSD Analysis.
GBPUSD moves sideways in a range between 1.5602 and 1.5747. As long as 1.5747 resistance holds, the price action in the range is treated as consolidation of the downtrend from 1.5991, and another fall could be seen after consolidation. Only break above 1.5747 will indicate that the fall has completed at 1.5602 already, then further rally is expected to follow, and the first target would be at 1.5800 area.
USDCAD Analysis.
No changed in our view, USDCAD is in consolidation of the downtrend from 1.0422 (Dec 14, 2011 high). As long as 1.0050 key resistance holds, another fall to 0.9700-0.9800 area is still possible, only break above 1.0050 could signal completion of the downtrend.
AUDUSD Analysis.
AUDUSD remains in downtrend from 1.0855, the rise from 1.0421 is treated as consolidation of the downtrend. Key resistance is at 1.0559, as long as this level holds, downtrend could be expected to resume, and one more fall towards 1.0200 is still possible.
USDCHF Analysis.
USDCHF has reached the upward trend line on 4-hour chart. Rebound would likely be seen later today, and another rise towards 0.9400 is expected. However, a clear break below the trend line will indicate that the uptrend from 0.9071 has competed at 0.9333 already, then deeper decline would be seen to 0.9150 area.
EURUSD Analysis.
EURUSD breaks above the downward trend line on 4-hour chart, suggesting that lengthier consolidation of the downtrend from 1.3486 is underway. Range trading between 1.3003 and 1.3200 would likely be seen in a couple of days. Support is at 1.3003, a breakdown below this level could signal resumption of the downtrend.
