USDJPY Analysis.
USDJPY breaks above 81.19 resistance and reaches as high as 81.37, suggesting that a cycle bottom has been formed at 80.31 on 4-hour chart. Further rise could be seen in a couple of days, and the fist target would be at the upper line of the price channel. As long as the channel resistance holds, the bounce is treated as consolidation of the downtrend from 84.17, and another fall is still possible after consolidation. On the upside, a clear break above the channel resistance will indicate that the fall from 84.17 has completed at 80.31 already, then the following upward movement could bring price to 83.00 area.
USDCAD Analysis.
USDCAD is facing 0.9841 support, a breakdown below this level will signal resumption of the longer term downtrend from 1.0422 (Dec 14, 2011 high), then further decline to 0.9600-0.9700 area could be seen. However, as long as 0.9841 support holds, lengthier consolidation in the range between 0.9841 and 1.0050 is still possible.
EURUSD Analysis.
EURUSD traded in a range between 1.2995 and 1.3212. The price action in the range is likely consolidation of the downtrend from 1.3385, another fall would likely be seen later today, a breakdown below 1.2995 will signal resumption of the downtrend.
AUDUSD Analysis.
AUDUSD moves sideways in a range between 1.0225 and 1.0463. As long as 1.0463 resistance holds, the price action in the range is treated as consolidation of the downtrend, and another fall towards 1.0000 is still possible. On the upside, a break above 1.0463 will suggest that the fall from 1.0855 has completed at 1.0225 already, then further rise to 1.0600 area could be seen.
GBPUSD Analysis.
GBPUSD traded in a range between 1.5804 and 1.5984. The price action is likely consolidation of the downtrend from 1.6062, another fall to towards 1.5600 would likely be seen after consolidation, and a breakdown below 1.5804 could signal resumption of the downtrend from 1.6062.
USDCHF Analysis.
USDCHF remains in uptrend from 0.9001, the price action in the trading range between 0.9091 and 0.9250 is treated as consolidation of the uptrend. Another rise towards 0.9333 could be seen after consolidation. Support is at 0.9091, as long as this level holds, uptrend will continue.
