USDJPY Analysis.
USDJPY remains in the short term downtrend from 80.67, the rise from 79.07 would possibly be consolidation of the downtrend. Another fall could be expected after consolidation, and the target would be at 78.80 area. However, the fall from 80.67 is likely consolidation of the longer term uptrend from 77.14 (Sep 13 low), one more rise to 82.00 area is still possible after consolidation. Resistance is now at 79.65, a break above this level will indicate that a cycle bottom has been formed at 79.07 on 4-hour chart, and the short term downtrend from 80.67 has completed, then the following upward movement could bring price to 81.00 zone.
AUDUSD Analysis.
Being contained by the support of the upward trend line on 4-hour chart, AUDUSD rebounded from 1.0359. Further rise to test 1.0480 previous high resistance would likely be seen, a break above this level will indicate that the uptrend from 1.0236 has resumed, then next target would be at 1.0500 area. On the downside, a clear break below the trend line support will suggest that the upward movement from 1.0236 had completed at 1.0480 already, then pullback to 1.0200 area could be expected.
GBPUSD Analysis.
GBPUSD stays below a downward trend line on 4-hour chart, and remains in downtrend from 1.6174. Resistance is at the trend line, as long as the trend line resistance holds, the downtrend could be expected to continue, and next target would be at 1.5800 area.
EURUSD Analysis.
EURUSD stays below a downward trend line on 4-hour chart, and remains in downtrend from 1.3138. As long as the trend line resistance holds, the downtrend could be expected to continue, and next target would be at 1.2600 area. On the upside, a clear break above the trend line resistance will indicate that a cycle bottom is being formed, then further rally to 1.2850 area could be seen.
USDCHF Analysis.
USDCHF stays above a upward trend line on 4-hour chart, and remains in uptrend from 0.9276. As long as the trend line support holds, the uptrend could be expected to continue, and next target would be at 0.9550 area. On the downside, a clear break below the trend line support will suggest that a cycle top is being formed, then pullback to 0.9350 area could be seen.
USDCAD Analysis.
USDCAD remains in uptrend from 0.9874. Another rise could be expected after a minor consolidation, and next target would be at 1.0100 area. Support is at 0.9945, only break below this level will indicate that a cycle top is being formed on 4-hour chart, then further decline to test the support of the lower line of the price channel could be seen.
