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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USDCAD Daily Analysis - February 9, 2017 Forex Analysis

USDCAD remains in uptrend from 1.2968, the fall from 1.3211 is likely consolidation of the uptrend. Further rise is still possible after consolidation, and next target would be at 1.3300 area.

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USDJPY Daily Analysis - February 9, 2017 Forex Analysis

USDJPY stays below the downward trend line on 4-hour chart and remains in downtrend from 118.66 (Dec 15, 2016 high). As long as the trend line resistance holds, the downtrend could be expected to continue and next target would be at 110.00 area. The key resistance is at 113.95, only break above this level will indicate that lengthier consolidation of the downtrend is underway, then further rise to 115.00 area could be seen.

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AUDUSD Daily Analysis - February 9, 2017 Forex Analysis

AUDUSD is in consolidation of the uptrend from 0.7159. Range trading between 0.7570 and 0.7695 would likely be seen in a couple of days and further rise to 0.7800 is possible after consolidation. 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 9, 2017 Forex Analysis

GBPUSD is now 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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