USDJPY Daily Analysis - February 27, 2017 Forex Analysis

USDJPY is facing 111.59 support, a breakdown below this level will confirm that the downtrend from 118.66 (Dec 15, 2016 high) has resumed, then further decline to 111.00 area could be seen. Near term resistance is located at the downward trend line on 4-hours chart, only a clear break above the trend line resistance will indicate that lengthier consolidation for the downtrend from 118.66 is underway, then 115.62 key resistance will be tested.

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AUDUSD Daily Analysis - February 27, 2017 Forex Analysis

AUDUSD is facing the support of the price channel on 4-hours chart. As long as the pair stays in the channel, the uptrend from 0.7159 (Dec 26, 2016 low) could be expected to continue, and next target would be at 0.7800 area. Key support is at 0.7605, only break below this level could signal completion of the uptrend.

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GBPUSD Daily Analysis - February 27, 2017 Forex Analysis

GBPUSD failed to break above 1.2582 resistance and stayed in the trading range between 1.2346 and 1.2582. The price action in the trading range is likely consolidation of the downtrend from 1.2706. Further decline is possible after consolidation, and next target would be at 1.2000 area.

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EURUSD Daily Analysis - February 27, 2017 Forex Analysis

EURUSD stays in the downward price channel on 4-hours chart, indicating that the pair remains in downtrend from 1.0828. As long as the channel resistance holds, the downtrend could be expected to resume, and further decline to 1.0400 area is still possible. Key resistance is at 1.0679, only break above this level could signal completion of the downtrend.

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