USDJPY Daily Analysis - October 4, 2016 Forex Analysis

USDJPY broke above the downward trend line on 4-hour chart, indicating that the downtrend from 104.31 had completed at 100.08 already. Further rally could be expected, and next target would be at 104.00 zone. Support levels are at 100.65 and 100.08, only break below these levels could trigger another all to test 99.52 (Aug 16 low) support.

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AUDUSD Daily Analysis - October 4, 2016 Forex Analysis

AUDUSD remains in uptrend from 0.7441, the fall from 0.7710 is likely consolidation of the uptrend. Further rise is possible after consolidation, and next target would be at 0.7900 area. Key support is at 0.7589, only break below this level could bring price back to 0.0.7300 zone.

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GBPUSD Daily Analysis - October 4, 2016 Forex Analysis

GBPUSD broke below 1.2865 (Aug 15 low) support, and is now facing 1.2795 (Jul 6 low) support. A breakdown below this level will indicate that the long term downtrend from 1.5016 (Jun 24 high) has resumed, then the following downward movement could bring price to 1.2000 zone. Near term resistance is at the downward trend line on 4-hour chart, and the key resistance is at 1.3058, only break above this level could bring price back to 1.3300 zone.

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EURUSD Daily Analysis - October 4, 2016 Forex Analysis

EURUSD remains in short term downtrend from 1.1279. Another fall to test 1.1123 support is still possible, and a breakdown below this level will indicate that the longer term downtrend from 1.1366 (Aug 18 high) has resumed, then next target would be at 1.1000 area. Resistance is at 1.1279, only break above this level will indicate that the sideways movement in a range between 1.1123 and 1.1326 is complete, then the following upward movement could bring price to 1.1500 zone.

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