USDJPY Analysis.
USDJPY breaks below 79.63 previous low and reaches as low as 79.43, suggesting that a downtrend from 84.17 has resumed. Further decline could be expected in a couple of days, and next target would be at 79.00 area. Key resistance remains at the upper line 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 1.0021 is treated as consolidation of the downtrend. Resistance is located at the downward trend line on 4-hour chart, as long as the trend line resistance holds, downtrend could be expected to resume, and another fall towards 0.9800 is possible.
GBPUSD Analysis.
GBPUSD’s downward movement from 1.6301 extends to as low as 1.6068. Further decline is still possible after consolidation, and next target would be at 1.6000 area. Resistance is at the downward trend line on 4-hour chart, only a clear break above the trend line resistance could signal completion of the downtrend.
EURUSD Analysis.
EURUSD continues its downward movement from 1.3283 and reaches as low as 1.2911. Further fall could be expected after a minor consolidation, and next target would be at 1.2800 area. Resistance is now at the downward trend line on 4-hour chart, as long as the trend line resistance holds, downtrend will continue.
USDCAD Analysis.
USDCAD breaks above 1.0051 key resistance, suggesting that the downtrend from 1.0523 (Nov 25, 2011 high) has completed at 0.9799 already. Further rise could be expected after consolidation, and next target would be at 1.0100 area. Support is at 0.9970, as long as this level holds, uptrend from 0.9799 will continue.
USDCHF Analysis.
USDCHF stays above a upward trend line on 4-hour chart, and remains in uptrend from 0.9043. Further rise could be expected after a minor consolidation, and next target would be at 0.9350 area. Support is at the trend line, only a clear break below the trend line could signal completion of the uptrend.
