USDJPY Analysis.
USDJPY remains in uptrend from 79.69, the price action from 81.26 is treated as consolidation of uptrend. Support is at the uptrend line on 4-hour chart, as long as the trend line support holds, we’d expect uptrend to resume, and one more rise to 81.60-81.80 area is still possible. However, a clear break below the trend line will indicate that the rise from 79.69 had completed at 81.26 already, then the following downward move could bring price to 78.00 zone.
EURUSD Analysis.
EURUSD’s downward move from 1.4577 extended to as low as 1.4286. Further fall would likely be seen after a minor consolidation, and the target would be at 1.4200 area. Resistance is at 1.4370, as long as this level holds, downtrend will continue.
GBPUSD Analysis.
GBPUSD had formed a cycle top at 1.6139 on 4-hour chart. Range trading between 1.5912 would likely be seen in a couple of days. Key support is at 1.5912, a breakdown below this level could signal resumption of downtrend.
AUDUSD Analysis.
AUDUSD formed a cycle top at 1.0789 on 4-hour chart. Range trading between 1.0635 and 1.0789 is expected in a couple of days. Resistance is at 1.0789, only break above this level could trigger another rise towards 1.1011 previous high.
USDCHF Analysis.
USDCHF formed a cycle top at 0.8525 on 4-hour chart. The fall from 0.8525 would possibly be resumption of long term downtrend from 1.1730 (2010 high). Further fall towards 0.8275 previous low could be seen after a minor consolidation, a breakdown below this level will target 0.8000.
USDCAD Analysis.
USDCAD might be forming a cycle top at 0.9694 on 4-hour chart. Further fall to test 0.9579 is expected in a couple of days, a breakdown below this level will signal resumption of downtrend from 0.9912, then next target would be at 0.9500 area.
