USDJPY Analysis.
USDJPY moves sideways in a narrow range between 79.63 and 80.61. Resistance remains at the upper line of the price channel on 4-hour chart. As long as the channel resistance holds, downtrend could be expected to resume, and another fall towards 79.00 is possible after consolidation. On the other side, a clear break above the upper border of the channel will indicate that the downward movement from 84.17 has completed at 79.63 already, then the following upward movement could bring price to 83.00 zone.
AUDUSD Analysis.
AUDUSD continues its downward movement from 1.0474, and reaches as low as 1.0065. Further decline is still possible and next target would be at 1.0000 area. Key resistance is now at 1.0218, only break above this level could signal completion of the downtrend.
GBPUSD Analysis.
GBPUSD remains in downtrend from 1.6301, the price action from 1.6113 is treated as consolidation of the downtrend. Another fall could be seen after consolidation, and next target would be at 1.6000 area. Key resistance is at 1.6301, only break above this level could trigger another rise towards 1.6500.
EURUSD Analysis.
EURUSD remains in downtrend from 1.3283, the price action from 1.2955 is treated as consolidation of the downtrend. Another fall could be expected after consolidation, and next target would be at 1.2900 area. Support is at 1.2955, a breakdown below this level could signal resumption of the downtrend.
USDCAD Analysis.
USDCAD’s upward movement from 0.9799 extends to as high as 1.0022. Further rise to test 1.0051 key resistance is expected, a break above this level will signal completion of the downtrend from 1.0523 (Nov 25, 2011 high).
USDCHF Analysis.
USDCHF remains in uptrend from 0.9043, the fall from 0.9270 is treated as consolidation of the uptrend. Further rise could be expected after consolidation, and next target would be at 0.9300 area. Resistance is at 0.9270, a break above this level could signal resumption of the uptrend.
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