USDJPY Analysis.
USDJPY stays within a upward price channel on 4-hour chart, and remains in uptrend from 88.06. Support is located at the lower line of the channel, as long as the channel support holds, the uptrend could be expected to continue after a minor consolidation, and next target would be at 95.00 area. On the downside, a clear break below the channel support will indicate that consolidation of the longer term uptrend from 79.07 (Nov 9, 2012 low) is underway, then deeper decline to 91.00 area to complete the consolidation could be seen.
GBPUSD Analysis.
GBPUSD stays within a downward price channel on 4-hour chart, and remains in downtrend from 1.6339, the price action from 1.5674 is likely consolidation of the downtrend. Resistance is located at the upper line of the channel, as long as the channel resistance holds, the downtrend could be expected to resume, and another fall to 1.5550 area is still possible, only a clear break above the channel resistance could signal completion of the downtrend.
EURUSD Analysis.
EURUSD breaks below 1.3430 support and reaches as low as 1.3371, suggesting that consolidation of the uptrend from 1.2661 is underway. Deeper decline could be expected, and the target would be at 1.3300 area. Resistance is at 1.3575, only break above this level could trigger another rise towards 1.4000.
AUDUSD Analysis.
AUDUSD continues its downward movement from 1.0597, and the fall extends to as low as 1.0254. Further decline is still possible after a minor consolidation, and next target would be at 1.0200 area. Resistance is at 1.0340, followed by 1.0380, only break above these levels could signal completion of the downtrend.
USDCHF Analysis.
USDCHF breaks above 0.9150 resistance, suggesting that the downward movement from 0.9388 had completed at 0.9021 already. Further rise could be expected over the next several days, and next target would be at 0.9250 area. Support is at 0.9100, only break below this level could trigger another fall to 0.8950 zone.
USDCAD Analysis.
USDCAD may be forming a cycle bottom at 0.9932 on 4-hour chart. Further rise would likely be seen in a couple of days, and the target would be at 1.0030-1.0050 area. However, the rise would possibly be correction of the downtrend from 1.0100, another fall towards 0.9850 is still possible after correction.
