USDJPY Daily Analysis - November 4, 2016 Forex Analysis

USDJPY's downward movement from 105.53 extended to as low as 102.54. Further decline is still possible after a minor consolidation, and next target would be at 101.00 area. Resistance is at 104.25, as long as this level holds, the downtrend will continue.

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AUDUSD Daily Analysis - November 4, 2016 Forex Analysis

AUDUSD broke above 0.7688 resistance, indicating that the downward movement from 0.7734 had completed at 0.7557 already. Further rise could be expected and next target would be at 0.7800 area. Support is at 0.7600, only break below this level could bring price back to 0.7500 zone.

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GBPUSD Daily Analysis - November 4, 2016 Forex Analysis

GBPUSD broke above 1.2332 resistance and reached as high as 1.2494. Further rally is still possible and next target would be at 1.2600 area. Support is at 1.2330, only break below this level will indicate that the rally is complete, then the following downward movement could bring price back to test 1.1946 previous low support.

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EURUSD Daily Analysis - November 4, 2016 Forex Analysis

EURUSD remains in uptrend from 1.0851, the fall from 1.1126 is likely consolidation of the uptrend. Near term support is at the bottom of the price channel on 4-hour chart. As long as the channel support holds, the uptrend could be expected to continue, and next target would be at 1.1200 area. Key support is at 1.1030, only break below this level will indicate that the uptrend had completed at 1.1126 already, then deeper decline to 1.0950 area could be seen.

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