USDJPY Analysis.
USDJPY stays within a downward price channel on 4-hour chart, and remains in downtrend from 84.17, the bounces from 79.63 could be treated as consolidation of the downtrend. Another fall could be expected after consolidation, and next target would be at 79.00 area. Resistance is at the upper border of the price channel on 4-hour chart, only a clear break above the channel resistance could signal completion of the downtrend.
AUDUSD Analysis.
AUDUSD remains in downtrend from 1.0474, the rise from 1.0109 is treated as consolidation of the downtrend. Another fall could be expected after consolidation, and next target would be at 1.0000 area. Support is at 1.0109, a breakdown below this level could signal resumption of the downtrend.
GBPUSD Analysis.
GBPUSD remains in downtrend from 1.6301, the rise from 1.6113 is treated as consolidation of the downtrend. Another fall could be seen after consolidation, and next target would be at 1.6000 area. Key resistance is at 1.6301, only break above this level could trigger another rise towards 1.6500.
EURUSD Analysis.
After breaking below 1.2995 support, EURUSD bounce from 1.2955. However, the bounce is treated as consolidation of the downtrend from 1.3283. Another fall could be seen after consolidation and next target would be at 1.2900 area.
USDCAD Analysis.
USDCAD’s upward movement from 0.9799 extends to as high as 0.9986. Another rise to test 1.0051 key resistance would likely be seen after a minor consolidation, a break above this level will signal completion of the downtrend from 1.0523 (Nov 25, 2011 high).
USDCHF Analysis.
USDCHF is in uptrend from 0.9043, the fall from 0.9270 is treated as consolidation of the uptrend. Further rise could be expected after consolidation, and next target would be at 0.9300 area. Resistance is at 0.9270, a break above this level could signal resumption of the uptrend.
