USDJPY Analysis.
USDJPY stays in a upward price channel on 4-hour chart, and remains in uptrend from 95.81, the price action from 100.22 is treated as consolidation of the uptrend. Initial support is at 98.75, as long as this level holds, the uptrend could be expected to resume, and one more rise to 101.50 area is still possible. Key support is at the lower line of the channel, only a clear break below the channel support will indicate that the upward movement is complete, then the following downward movement could bring price to 95.00 zone.
USDCHF Analysis.
USDCHF’s downward movement from 0.9455 extends to as low as 0.9271. Further decline could be expected after a minor consolidation, and next target would be at 0.9200 area. Resistance is at 0.9370, as long as this level holds, the downtrend will continue.
EURUSD Analysis.
EURUSD remains in uptrend from 1.3105, the fall from 1.3324 could be treated as consolidation of the uptrend. Support is at 1.3225, as long as this level holds, the uptrend could be expected to resume, and another rise towards 1.3500 would likely be seen.
AUDUSD Analysis.
After touching 0.9317 resistance, AUDUSD pulls back from 0.9353, suggesting that the upward movement from 0.8892 has completed. The pair remains in consolidation of the downtrend from 1.0582 (Apr 11 high), further decline could be expected, and next target would be at 0.9150 area. Resistance is at 0.9353, only break above this level could signal completion of the downtrend from 1.0582.
GBPUSD Analysis.
GBPUSD stays above a upward trend line on 4-hour chart, and remains in uptrend from 1.5429, and the rise extends to as high as 1.5839. Initial support is at 1.5735, and the key support is at the upward trend line on 4-hour chart, only a clear break below the trend line support could signal completion of the uptrend.
USDCAD Analysis.
USDCAD’s downward movement from 1.0568 extends to as low as 1.0305. Further decline is still possible, and next target would be at 1.0250 area. Resistance is at 1.0380, as long as this level holds, the downtrend will continue.
