USDJPY Analysis.
USDJPY is facing the support of the uptrend line on 4-hour chart, as long as the trend line support holds, the fall from 77.25 is treated as consolidation of uptrend, one more rise towards 77.85 is still possible. However, a clear break below the trend line will indicate that a cycle top has been formed at 77.25, and the rise from 76.09 has completed, then deeper decline towards 75.96 key support could be seen.
GBPUSD Analysis.
GBPUSD may be forming a cycle bottom at 1.5341 on 4-hour chart. Key resistance is now at 1.5500, a break above this level will confirm the cycle bottom, then another rise towards 1.5800 could be seen. On the downside, as long as the pair stays below 1.5500, one more fall to re-test 1.5327 key support is still possible, a breakdown below this level could signal resumption of the longer term downtrend from 1.6617.
USDCHF Analysis.
USDCHF remains in uptrend from 0.7711. Further rise is still possible after a minor consolidation, and next target would be at 0.9500 zone. Support is at the uptrend line from 0.8648 to 0.8917, as long as the trend line support holds, uptrend will continue.
AUDUSD Analysis.
AUDUSD remains in downtrend from 1.0764. Key resistance is at the downtrend line on 4-hour chart, as long as the trend line resistance holds, the bounce from 0.9390 is treated as consolidation of downtrend, and another fall towards 0.9300 could be seen after consolidation.
EURUSD Analysis.
EURUSD remains in downtrend from 1.4548, the bounce from 1.3146 is treated as consolidation of downtrend. Key resistance is at the downtrend line on 4-hour chart, as long as the trend line resistance holds, downtrend could be expected to resume, and another fall towards 1.3000 is still possible after consolidation.
USDCAD Analysis.
USDCAD broke below the uptrend line on 4-hour chart, suggesting that lengthier consolidation of uptrend is underway. Range trading between 1.0300 and 1.0656 would likely be seen in next several days.
