USDJPY Analysis.
USDJPY is facing 88.40 previous high resistance, a break above this level will signal resumption of the uptrend from 82.11, then next target would be at 90.00 area. Initial support is at the lower line of the price channel on 4-hour chart, as long as the channel support holds, the uptrend will continue. Key support is at 86.82, only break below this level could indicate that lengthier consolidation of the longer term uptrend from 77.14 (Sep 13, 2012 low) is underway, then the following downward movement could bring price back to 86.00 zone.
AUDUSD Analysis.
AUDUSD breaks above 1.0527 resistance, suggesting that the uptrend from 1.0344 has resumed. Further rise could be expected, and next target would be at 1.0570 area. Support is at 1.0465, only break below this level could bring price back to 1.0400 zone.
EURUSD Analysis.
EURUSD has formed a cycle bottom at 1.2998 on 4-hour chart. As long as 1.2998 support holds, another rise towards 1.3308 previous high could be expected, and a break above 1.3140 resistance could signal resumption of the uptrend from 1.2998. On the downside, a breakdown below 1.2998 support will indicate that the pair remains in downtrend from 1.3308, then further decline to 1.2700 area could be seen.
USDCAD Analysis.
USDCAD is facing 0.9836 support, a breakdown below this level will signal resumption of the downtrend from 0.9970, then next target would be at 0.9700 area. Resistance is at 0.9925, only break above this level could bring price back to 1.0000 area.
GBPUSD Analysis.
GBPUSD breaks below 1.6010 support and reaches as low as 1.5993, suggesting that the downtrend from 1.6339 has resumed. Further decline could be seen and next target would be at 1.5950 area. Resistance is at 1.6150, only break above this level could bring price back towards 1.6500.
USDCHF Analysis.
USDCHF has formed a cycle top at 0.9302 on 4-hour chart. As long as 0.9302 resistance holds, another fall towards 0.9083 previous low could be expected, and a breakdown below 0.9200 support could signal resumption of the downtrend from 0.9302. On the upside, a break above 0.9302 resistance will indicate that the pair remains in uptrend from 0.9083, then further rise towards 0.9400 area could be seen.
