forexcycle

forexcycle

USDJPY continues its upward trajectory, confined within a rising price channel on the 4-hour chart. This suggests the uptrend from 145.89 remains in play, but where will the pair head next? Let's analyze the key support and resistance levels to understand the potential scenarios. Uptrend Continues: Channel Support as the Key Channel Confirmation: As long as...

forexcycle

Evaluating the fluctuating patterns of currency pairs such as USDJPY can offer valuable market insights. This section examines the recent USDJPY pullback and the subsequent consolidation phase. Meeting the Resistance: Pullback from 148.89 Following its approach towards the 148.80 resistance level, the USDJPY pair has stepped back from 148.89. The...

forexcycle

EURUSD’s upward movement from 1.0494 extended to as high as 1.0905. Further rise is still possible after a minor consolidation and next target would be at 1.0950 area. Near term support is at the bottom of the price channel on 4-hours chart, as long as the pair is in the channel, the uptrend will continue. Key support is at 1.0760, only break below this level will...

forexcycle

USDCAD moved sideways in a trading range between 1.3264 and 1.3409. Resistance is at 1.3409, a break of this level will confirm that the downtrend from 1.3535 had completed at 1.3264 already, then the following upward movement could bring price to 1.3600 area. On the other side, a breakdown below 1.3264 support will indicate that the pair remains in downtrend from...

forexcycle

AUDUSD failed to break above 0.7778 resistance again and pulled back to 0.7600 area, indicating that lengthier consolidation for the uptrend from 0.7158 is needed. However, as long as the pair stays above 0.7490 support, another rise to retest 0.7778 resistance is still possible. On the downside, a breakdown below 0.7490 support will indicate that the uptrend from...

forexcycle

USDJPY ran in the descending price channel on 4-hours chart and the downward movement from 115.50 extended to as low as 110.73. Near resistance is at the top of the price channel. As long as the channel resistance holds, the downtrend could be expected to continue and next target would be at 110.00 area. Key resistance is at 112.89, only break above this level...

forexcycle

USDJPY continued its downward movement from 115.50 and the fall extended to as low as 112.26. Resistance is located at the top of the price channel on 4-hours chart. As long as the channel resistance holds, the downtrend could be expected to continue and further decline to test 111.59 support is possible. On the upside, a clear break above the channel resistance...

forexcycle

USDJPY failed to break above 115.62 resistance and continued its sideways movement in a range between 111.58 and 115.62. Deeper decline to test 111.58 support would likely be seen next week. A break of this level will indicate that the downtrend from 118.66 has resumed, then the following downward movement could bring price to 108.00 area. Only break above 115.62...

forexcycle

USDJPY’s short term downtrend from 115.50 extended to as low as 112.90. Deeper decline to test 111.59 support is still possible after a minor consolidation. Resistance is located at the top of the price channel on 4-hours chart, only a clear break above the channel resistance will indicate that the short term downtrend had completed at 112.90 already, then the...

forexcycle

EURUSD failed to break below the the bottom of the rising price channel on 4-hours chart and rebounded strongly from 1.0600, indicating that the pair remains in uptrend from 1.0494. As long as the pair stays in the channel, further rise to test 1.0828 resistance is possible. Near term support is at 1.0650, and the key support is located at the bottom of the...