USDJPY Daily Analysis - November 1, 2016 Forex Analysis

USDJPY stays above the upward trend line on 4-hour chart, and remains in uptrend from 103.16. As long as the trend line support holds, the fall from 105.53 could be treated as consolidation of the uptrend. Further rise is still possible and next target would be at 106.00 area. However, a clear break below the trend line support will indicate that the uptrend had completed at 105.53 already, then the following downward movement could bring price back to 101.00 area.

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AUDUSD Daily Analysis - November 1, 2016 Forex Analysis

AUDUSD rebounded from the bottom of the price channel on 4-hour chart. Further rise would likely be seen in a couple of days, and the target would be at the top of the price channel. Support is at 0.7557, only break below this level could bring price to 0.7500 zone.

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GBPUSD Daily Analysis - November 1, 2016 Forex Analysis

GBPUSD moved sideways in a narrow range between 1.2082 and 1.2332 for several weeks. The sideways movement is likely consolidation of the downtrend from 1.3445 (Sept 6 high). As long as the downward trend line resistance holds, the downtrend could be expected to resume, and further decline to 1.1500 area is still possible. Support is at 1.2082, a breakdown below this level will signal resumption of the downtrend. Near term resistance is at 1.2332, a break of this level could bring price to test the trend line resistance.

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EURUSD Daily Analysis - November 1, 2016 Forex Analysis

EURUSD remains in uptrend from 1.0851, the fall from 1.0991 is likely consolidation of the uptrend. Near term support is at 1.0925, as long as this level holds, the uptrend could be expected to continue, and next target would be at 1.1050 area. On the other side, a breakdown below 1.0925 support could bring price back to test 1.0851 support.

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