USDJPY Analysis.
USDJPY stays in a upward price channel on 4-hour chart, and remains in uptrend from 77.43, the fall from 80.67 is likely consolidation of the uptrend. Support is at the lower line of the price channel, as long as the channel support holds, the uptrend could be expected to resume, and another rise towards 81.00 is possible after consolidation. On the other side, a clear break below the channel support will indicate that lengthier consolidation of the uptrend is underway, then range trading between 79.27 and 80.67 could be seen to follow.
GBPUSD Analysis.
GBPUSD’s downward movement from 1.6174 extends to as low as 1.5957. Deeper decline to test 1.5913 support would likely be seen, a breakdown below this level will signal resumption of the downtrend from 1.6309, then next target would be at 1.5800 area. However, as long as 1.5913 support holds, the fall from 1.6174 would possibly be correction of the uptrend from 1.5913, and another rise towards 1.6309 is still possible.
EURUSD Analysis.
EURUSD breaks below 1.2803 support, and the fall from 1.3020 extends to as low as 1.2767. Further decline would likely be seen, and next target would be at 1.2700 area. Initial resistance is at 1.2850, as long as this level holds, the downtrend will continue. Key resistance is at the downward trend line on 4-hour chart, only a clear break above the trend line resistance could trigger another rise towards 1.3500.
USDCHF Analysis.
USDCHF breaks above 0.9437 resistance, and the rise from 0.9276 extends to as high as 0.9448. Further rise could be expected, and next target would be at 0.9500 area. Initial support is at 0.9395, as long as this level holds, the uptrend will continue. Key support is at the upward trend line on 4-hour chart, only a clear break below the trend line support could trigger another fall towards 0.9000.
AUDUSD Analysis.
AUDUSD has formed a cycle top at 1.0418 on 4-hour chart. Another fall could be expected, 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 may be forming a cycle bottom at 0.9921 on 4-hour chart. Another rise to test 1.0019 resistance would likely be seen, a break above this level will signal resumption of the uptrend from 0.9734, then next target would be at 1.0100 zone. Support is at 0.9921, only break below this level could bring price to 0.9850-0.9900 area.
