USDJPY Analysis.
USDJPY broke above 80.37 resistance and reached as high as 80.67 last Friday, suggesting that the uptrend from 77.43 has resumed. Further rise could be expected and next target would be at 81.00 area. Initial support is at 80.20 and the key support remains at the lower line of the price channel on 4-hour chart, as long as the channel support uptrend will continue, only a clear break below the lower line of the channel could signal completion of the uptrend.
GBPUSD Analysis.
GBPUSD failed to break above 1.6178 resistance and pulled back from 1.6174, suggesting that a cycle top has been formed on 4-hour chart. However, as long as 1.5913 support holds, another rise to re-test 1.6178 resistance is still possible, only break below 1.5913 support could trigger another fall towards 1.5800.
EURUSD Analysis.
EURUSD is facing 1.2803 support again, a breakdown below this level will indicate that lengthier consolidation of the uptrend from 1.2042 is underway, then deeper decline to 1.2600-1.2700 area to complete the consolidation could be seen. Resistance is at 1.2900, only break above this level could bring price back to the trading range between 1.2803 and 1.3171.
USDCHF Analysis.
USDCHF is facing 0.9437 resistance again, a break above this level will indicate that lengthier consolidation of the downtrend from 0.9971 is underway, then further rise to 0.9500-0.9600 area could be seen. Support is at 0.9350, only break below this level could bring price back to the trading range between 0.9214 and 0.9437.
AUDUSD Analysis.
After touching 1.0410 resistance, AUDUSD pulled back from 1.0418, suggesting that a cycle top has been formed on 4-hour chart. Further decline would likely be seen in a couple of days, and next target would be at 1.0300 area. Resistance is at 1.0418, only break above this level could trigger another rise towards 1.0500.
USDCAD Analysis.
USDCAD had formed a cycle top at 1.0019 on 4-hour chart. Further decline would likely be seen and next target would be at 0.9850 area. However, the fall from 1.0019 would possibly be consolidation of the longer term uptrend from 0.9632 (Sep 14 low), another rise towards 1.0100 is still possible after consolidation.
