USDJPY Analysis.
USDJPY’s upward movement from 93.79 extends to as high as 98.56. Further rise would likely be seen, and next target would be at 100.00 area. However, the rise from 93.79 would possibly be correction of the downtrend from 103.73, another fall is still possible after correction. Support is now at 96.80, a breakdown below this level will indicate that the upward movement from 93.79 has completed, then the following downward move could bring price back towards 85.00.
USDCAD Analysis.
USDCAD broke above 1.0420 previous high resistance, and reaches as high as 1.0498. Further rise could be expected, and next target would be at 1.0600 area. Support is at 1.0400, only break below this level could signal completion of the uptrend from 1.0137.
USDCHF Analysis.
USDCHF’s upward movement from 0.9130 extends to as high as 0.9378. Further rise to 0.9400 area would likely be seen. However, the rise from 0.9130 would possibly be consolidation of the downtrend from 0.9838, as long as 1.0400 resistance holds, the downtrend could be expected to resume, and another fall towards 0.9000 is still possible after consolidation.
EURUSD Analysis.
EURUSD continues its downward movement from 1.3415, and the fall extends to as low as 1.3091. Further decline is still possible after a minor consolidation, and next target would be at 1.3000 area. Resistance is at 1.3255, only break above this level could signal completion of the downtrend.
AUDUSD Analysis.
AUDUSD remains in downtrend from 0.9664. Further decline could be expected after a minor consolidation, and next target would be at 0.9100 area. Resistance is at 0.9270, only break above this level will indicate that the fall from 0.9664 is complete, then the following upward movement could bring price back to test the channel resistance.
GBPUSD Analysis.
GBPUSD’s downward movement from 1.5751 extends to as low as 1.5368. Further decline could be expected and next target would be at 1.5300 area. Resistance is at 1.5530, only break above this level could signal completion of the downtrend.
