USDJPY Daily Analysis - February 10, 2017 Forex Analysis

USDJPY broke above the downward trend line on 4-hour chart, and is now facing the resistance at 113.95. As long as this level holds, the rise from 111.59 could be treated as consolidation of the downtrend from 118.66 (Dec 15, 2016 high) and another fall towards 110.00 could be expected after consolidation. On the upside, a break of 113.95 resistance will indicate that lengthier consolidation of the downtrend is underway, then further rise to 115.00 area could be seen.

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GBPUSD Daily Analysis - February 10, 2017 Forex Analysis

No changed in our view, GBPUSD remains in downtrend from 1.2706, the rise from 1.2346 could be treated as consolidation of the downtrend. Further decline could be expected after correction, and next target would be at 1.2100 area. Resistance is at 1.2706, only break above this level could trigger another rise towards 1.3000.

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EURUSD Daily Analysis - February 10, 2017 Forex Analysis

EURUSD is testing 1.0620 support, as long as the pair is above this level, the fall from 1.0828 could be treated as consolidation of the uptrend from 1.0340 and further rise to 1.0900 area is still possible after consolidation. On the other side, a breakdown below 1.0620 support will indicate that the uptrend had completed at 1.0828 already, then the following downward movement could bring price to 1.0000 zone.

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