USDJPY Analysis.
USDJPY is in downtrend from 80.62 (Jun 25 high), the sideways movement from 77.94 is treated as consolidation of the downtrend. Key resistance is now at 79.15, as long as this level holds, we’d expect downtrend to resume, and another fall towards 77.00 is still possible. However, a break above 79.15 will indicate that the downtrend has completed at 77.92 already, then the following upward movement could bring price back to 81.00 area.
EURUSD Analysis.
EURUSD continues its upward movement from 1.2042, and the rise extends to as high as 1.2442. Further rise could be expected over the next several days, and next target would be at 1.2600 area. Key support is now at the upward trend line on 4-hour chart, only a clear break below the trend line could signal completion of the uptrend.
USDCAD Analysis.
USDCAD’s downward movement from 1.0230 extends to as low as 1.0010. Key resistance is now at 1.0083, as long as this level holds, the downtrend could be expected to continue, and next target would be at 0.9900 area. On the upside, a break above 1.0083 resistance will indicate that the downtrend from 1.0230 has completed, then the following upward movement could bring price back to 1.0150 area.
AUDUSD Analysis.
AUDUSD has reached the upper line of the price channel on 4-hour chart, consolidation of the uptrend would likely be seen in a couple of days. Support is at 1.0435, a breakdown below this level will indicate that a cycle top has been formed, then pullback towards the lower line of the channel could be expected to follow.
USDCHF Analysis.
USDCHF’s downward move from 0.9971 extends to as low as 0.9656. Further decline could be expected in a couple of days, and next target would be at 0.9600 area. Resistance is now at the downward trend line on 4-hour chart, only a clear break above the trend line resistance could signal completion of the downtrend.
GBPUSD Analysis.
GBPUSD moves sideways in a range between 1.5458 and 1.5767. Another rise to test 1.5767 resistance would likely be seen, a break above this level will target 1.5900 zone.
