USDJPY Analysis.
After touching 79.14 key support, USDJPY rebounds strongly, suggesting that a cycle bottom has been formed on 4-hour chart. Further rise to test 80.09 resistance would likely be seen, a break above this level will signal resumption of the uptrend from 77.66, then another rise towards 82.00 could be seen. On the other side, a clear break below 79.14 key support will confirm that the uptrend from 77.66 had completed at 80.62 already, then further decline to 78.00 area could be seen.
EURUSD Analysis.
EURUSD’s downward movement from 1.2692 extends to as low as 1.2212. Resistance is at 1.2335, as long as this level holds, downtrend could be expected to continue, and next target would be at 1.2000. On the other side, a break above 1.2235 resistance will indicate that a cycle bottom has been formed on 4-hour chart, and lengthier consolidation of the downtrend is underway, then range trading between 1.2200 and 1.2400 could be seen.
AUDUSD Analysis.
AUDUSD is in short term downtrend from 1.0328. Deeper decline could be expected after a minor consolidation, and the first target would be at the lower border of the price channel on 4-hour chart. Key resistance is at 1.0328, only break above this level could signal resumption of the longer term uptrend from 0.9581, then further rise towards 1.0500 area could be seen.
USDCHF Analysis.
USDCHF continues its upward movement from 0.9463, and the rise extends to as high as 0.9830. Support is at 0.9735, as long as this level holds, further rise could be expected, and next target would be at 0.9900 area. On the other side, a breakdown below 0.9735 will indicate that a cycle top has been formed on 4-hour chart, and lengthier consolidation of the uptrend is underway, then pullback to 0.9650 area to complete the consolidation would be seen.
GBPUSD Analysis.
GBPUSD remains in downtrend from 1.5721, the price action from 1.5461 is treated as minor consolidation of the downtrend. Another fall would likely be seen after consolidation, and the next target would be at 1.5350-1.5400 area.
USDCAD Analysis.
USDCAD remains in uptrend from 1.0100. Further rise could be expected in a couple of days, and the target would be at 1.0300 area. Key support is at 1.0100, only break below this level could trigger another fall towards 1.0000.
