USDJPY Daily Analysis - January 4, 2017 Forex Analysis

USDJPY is facing 118.66 resistance, a break of this level will indicate that the uptrend from 101.18 (Nov 09, 2016 low) has resumed, then next target would be at 120.00 area. Key support is at 114.73, only break below this level could signal completion of the uptrend.

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GBPUSD Daily Analysis - January 4, 2017 Forex Analysis

GBPUSD broke below 1.2202 support, indicating that the downtrend from 1.2774 has resumed. Resistance is at the top of the price channel on 4-hour chart. As long as the channel resistance holds, the downtrend could be expected to continue, and next target would be at 1.2000 area. Only a clear break above the channel resistance could signal completion of the downtrend.

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EURUSD Daily Analysis - January 4, 2017 Forex Analysis

EURUSD broke below 1.0352 support, indicating that the downtrend from 1.1299 (Nov 9, 2016 high) has resumed. Further decline could be expected and next target would be at 1.0200 area. Resistance levels are at 1.0500 and 1.0653, as long as these levels hold, the downtrend will continue.

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