USDJPY Analysis.
After consolidation, USDJPY breaks below 79.43 previous low support, and continues its downward movement from 84.17 (Mar 15 high). Further decline could be expected over the next several days, and next target would be at 78.00 area. Resistance is at 79.70, only break above this level could indicate that lengthier consolidation of the downtrend is underway, then another rise to test 80.61 resistance could be seen.
EURUSD Analysis.
EURUSD is facing the 1.2624 (Jan 13 low) support, consolidation would likely be seen before breaking below this level. Resistance is at the downward trend line on 4-hour chart, a break above the trend line could signal consolidation of the downtrend, then rebound to 1.2800-1.2850 area could be seen.
GBPUSD Analysis.
GBPUSD continues its downward movement from 1.6301, and the fall extends to as low as 1.5754. Further decline could be seen after a minor consolidation, and next target would be at 1.5700 area. Resistance is at 1.5860, only break above this level could signal completion of the downtrend.
AUDUSD Analysis.
After a minor consolidation, AUDUSD continues its downward movement from 1.0474, and reaches as low as 0.9834. Further decline could be seen, and next target would be at 0.9800 area. Resistance remains at the downward trend line on 4-hour chart, only a clear break above the trend line resistance could signal completion of the downtrend.
USDCAD Analysis.
USDCAD’s upward movement from 0.9799 extends to as high as 1.0211. Further rise could be expected after a minor consolidation, and next target would be at 1.0300 area. Support remains at the uptrend line on 4-hour chart, only a clear break below the trend line could signal completion of the uptrend.
USDCHF Analysis.
USDCHF’s upward movement extends to as high as 0.9481. Further rise could be expected after a minor consolidation, and next target would be at 0.9550 area. Support is at the lower border of he price channel on 4-hour chart, as long as the channel support holds, uptrend will continue.
