USDJPY Daily Analysis - February 16, 2017 Forex Analysis

USDJPY broke above the resistance of the price channel on 4-hour chart. Further rise to test 115.62 resistance is possible. As long as this level 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 towards 110.00 could be expected after consolidation. On the upside, a break of 115.62 resistance will indicate 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 16, 2017 Forex Analysis

AUDUSD broke above 0.7695 resistance and continued its upward movement from 0.7159 (Dec 26, 2016 low). Further rise could be expected in a couple of days, and next target would be at 0.7800 area. Key support is now at 0.7605, only break below this level could signal completion of the uptrend.

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EURUSD Daily Analysis - February 16, 2017 Forex Analysis

EURUSD broke above the downward trend line on 4-hour chart, implying that the downtrend from 1.0828 had completed at 1.0521 already. Further rise would likely be seen in a couple of days and the target would be at 1.0700 - 1.0740 area.

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