USDJPY Analysis.
USDJPY traded in a narrow range between 96.86 and 98.70. The price action in the range is likely consolidation of the uptrend from 93.79. Further rise would likely be seen after consolidation, and next target would be at 100.00 area. Key support is at 96.86, only break below this level will indicate that the uptrend from 93.79 had completed at 98.70 already, then the following downward movement could bring price back to 95.50 zone.
USDCAD Analysis.
No changed in our view, USDCAD remains in uptrend from 1.0137, the fall from 1.0556 is likely consolidation of the uptrend. Another rise could be expected after consolidation, and next target would be at 1.0600 area. Key support is at 1.0400, only break below this level could signal completion of the uptrend.
USDCHF Analysis.
USDCHF’s upward movement from 0.9130 extends to as high as 0.9407. Further rise is still possible, and next target would be at 0.9450 area. Support is at 0.9310, only break below this level could signal completion of the uptrend.
EURUSD Analysis.
EURUSD remains in downtrend from 1.3415, the rise from 1.3059 is treated as consolidation of the downtrend. Another fall could be expected after consolidation, and a breakdown below this level could trigger another fall to 1.3000 zone. Resistance is at 1.3175, only break above this level could signal completion of the downtrend.
AUDUSD Analysis.
Being contained by the support of the lower line of the price channel on 4-hour chart, AUDUSD bounced from 0.9148, suggesting that consolidation of the downtrend from 1.0582 (Apr 11 high) is underway. Further rise towards the upper line of the channel would likely be seen in a couple of days. As long as the channel resistance holds, the downtrend could be expected to resume, and one more fall towards 0.9000 is still possible.
GBPUSD Analysis.
GBPUSD remains in downtrend from 1.5751, the rise from 1.5343 could be treated as consolidation of the downtrend. Another fall could be expected after consolidation, and next target would be at 1.5300 area. Key resistance is at 1.5530, only break above this level could signal completion of the downtrend.
