USDJPY Daily Analysis - February 14, 2017 Forex Analysis

USDJPY's bounce from 111.59 extended to as high as 114.16. Further rise to the top of the price channel on 4-hour chart is possible. As long as the channel resistance holds, the price action from 112.56 could be treated as consolidation of the downtrend from 118.66 (Dec 15, 2016 high) and another fall to 110.00 area could be expected after consolidation. Key resistance is at 115.62, only break above this level will confirm that the downtrend had completed at 111.59 already, then the following upward movement could bring price to 118.00 zone.

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AUDUSD Daily Analysis - February 14, 2017 Forex Analysis

AUDUSD moved sideways in a narrow range between 0.7605 and 0.7695. The sideways movement is likely consolidation of the uptrend from 0.7159 (Dec 26, 2016 low). Further rise could be expected as long as the pair stays above 0.7605 support, and next target would be at 0.7800 area. Key support is at 0.7511, only break below this level could signal completion of the uptrend.

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GBPUSD Daily Analysis - February 14, 2017 Forex Analysis

GBPUSD remains in downtrend from 1.2706, the rise from 1.2346 is likely correction 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 14, 2017 Forex Analysis

EURUSD stays below the downward trend line on 4-hour chart, which is holding the downside move from 1.0828. As long as the pair is below the trend line, the downtrend could be expected to continue, and next target would be at 1.0400 area. Key resistance is now at 1.0658, only break above this level will indicate that correction of the downtrend is underway, then the following upward movement could bring price back to 1.0700 - 1.0740 area.

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