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USDJPY Analysis. USDJPY rebounded sharply from 88.24, suggesting that a short constituent cycle bottom has been formed on 4-hour chart. Range trading between 88.24 and 90.60 is expected in a pair of days. As daylong as 90.60 status holds, the toll action from 88.24 is treated as compounding of downtrend from 92.53 and boost start to test 87.12 (Jan 21 low) daylong constituent critical stop is still doable after consolidation, however, a break above 90.60 status will indicate that downtrend from 92.53 has completed, then boost rise could be seen to 91.00 or even higher.
EURUSD Analysis. EURUSD is now in short constituent downtrend from 1.4843, deeper start is doable to 1.4500 regularize in a pair of days. Near constituent status is at 1.4680 followed by 1.4724, as daylong as these levels hold, we’d expect downtrend to continue.
USDCAD Analysis. USDCAD is now in short constituent uptrend from 1.0590. The start from 1.0991 is more probable compounding of uptrend. Range trading between 1.0800 and 1.0991 is expected in a pair of days and boost rise to 1.1050-1.1100 area is still doable after consolidation.
GBPUSD Analysis. GBPUSD remains in short constituent downtrend from 1.6467 and the rise from 1.5770 is more probable compounding of downtrend. Further start is still doable after compounding and incoming target would be at 1.5600 zone. Initial status is now at 1.6050, as daylong as this level holds, downtrend will continue.
AUDUSD Analysis. AUDUSD continues to trade in a range between 0.8543 and 0.8788. Sideways movement is still in favor in a pair of days. However, the toll action in the trading range is treated as compounding of uptrend from 0.8155, boost rise towards 0.8900 is doable after consolidation, and a breakout above 0.8788 status will communication start of uptrend.
USDCHF Analysis. USDCHF remains in downtrend from 1.0714 and the rise from 1.0186 is more probable compounding of downtrend. Range trading between 1.0186 and 1.0422 is expected in a pair of days. Downtrend will resume after compounding and deeper start towards 1.0100 is still possible.
