USDJPY Analysis.
USDJPY remains in short term uptrend from 79.69. The price action from 81.26 is treated as consolidation of uptrend. Key support is at the uptrend line on 4-hour chart, as long as the trend line support holds, uptrend could be expected to continue, and next target would be at 81.60-81.80 area. Only a clear break below the trend line support will indicate that the rise from 79.69 is complete, then the another fall towards 78.00 could be seen.
EURUSD Analysis.
EURUSD remains in uptrend from 1.4102. As long as 1.4436 support holds, uptrend could be expected to continue, and next target would be at 1.4600-1.4650 area. However, a breakdown below 1.4436 will indicate that the rise from 1.4102 is complete, then the following downward movement could bring price back to 1.4200 zone.
GBPUSD Analysis.
GBPUSD’s bounce from 1.5912 extended further to as high as 1.6139. Lengthier consolidation of downtrend from 1.6546 could be expected, and range trading between 1.5912 and 1.6200 is possible in next several days.
AUDUSD Analysis.
AUDUSD is in uptrend from 1.0390. The price action in the trading range between 1.0673 and 1.0789 is treated as consolidation of uptrend. As long as 1.0673 support holds, we’d expect uptrend to resume, and another rise towards 1.1011 previous high is possible. However, a breakdown below 1.0673 will indicate that lengthier consolidation of uptrend is underway, then pullback to 1.0635 area could be seen.
USDCHF Analysis.
Being contained by 0.8550 resistance, USDCHF pulled back from 0.8525. The fall from 0.8525 is likely consolidation of short term uptrend from 0.8275, one more rise to 0.8600 area is still possible. Support is at 0.8460, only break below this level will indicate that the rise from 0.8275 had completed at 0.8525 already, then the following downward movement could bring price to 0.8000.
USDCAD Analysis.
USDCAD might be forming a cycle bottom at 0.9579 on 4-hour chart. Further rally would likely be seen in a couple of days, and the first target would be at 0.9660 area. Support is at 0.9579, only break below this level could signal resumption of downtrend.
