USDJPY is in downtrend from 90.40. As long as resistance of the upper border of the falling price channel holds, we’d expected downtrend to continue and another fall could be seen to 87.50 zone. However, above the channel resistance will suggest lengthier consolidation of downtrend from 97.78 is underway, then the following rebound will take price to 89.50-90.00 area.
Being contained by 1.6125 resistance, GBPUSD pulls back from 1.6120, suggesting that a short term cycle top is being formed on 4-hour chart. Further fall is expected in a couple of days and target is to test 1.5770 previous low support.
USDCHF remains in downtrend from 1.0452 and the price action from 1.0237 is treated as consolidation of downtrend. Sideways movement is still possible later today. Key support is located at 1.0186, a break below this level will signal deeper decline towards 1.0000 zone.
EURUSD’s uptrend extends further to as high as 1.4816 level. Range trading between 1.4649 and 1.4843 is expected before breaking above 1.4843 previous high resistance and pullback to 1.4680-1.4700 area is possible later today.
USDCAD’s downtrend extends further to as low as 1.0505 level. As long as 1.0648 resistance holds, we’d expect downtrend to continue and deeper decline towards 1.0450 is possible in a couple of days.
AUDUSD remains in uptrend from 0.8567 and the rise extends further to as high as 0.9089 level. Near term support is at the rising trend line from 0.8567 to 0.8865, as long as the trend line support holds, we’d expect uptrend to continue and next target would be at 0.9150-0.9200 area.