Forex Cycle Analysis

[sdotwewen]

EURUSD is forming a sideways consolidation in a range between 1.2630 and 1.2752. Key support is at 1.2630, further fall towards 1.2559 previous low support is possible if the key support is broken below. Key resistance is now at 1.2752, down trend from 1.2878 would end by breaking above this key resistance.
http://www.forexcycle.com/eurusd.html

[sdotwewen]

Key resistance at 1.2725 is broken above, and EURUSD is now in up trend. Further rise towards 1.2878 to test the previous high resistance is possible in the next several days. Key support is now at 1.2650, only break below this level may signal the resumption of the down trend.http://www.forexcycle.com

[sdotwewen]

EURUSD is in up trend and is testing the falling trend line resistance. A slightly correction is needed now before the resumption of the up trend, and further rise towards 1.2878 previous high resistance is still possible after the slightly correction.

[sdotwewen]

USDJPY is testing the falling trend line resistance, if this resistance give way, the pair would be bottoming on 4 hours chart. Sensitive support is at 116.08, the break below this level implies that the last cycle bottom is at 117.26 level, further fall towards 115.57 previous low support can be expected, and the next cycle bottom would be after September 27.
http://www.forexcycle.com/usdjpy.html

[sdotwewen]

USDJPY is testing the price channel resistance, the rebound from 116.08 to 116.74 is treated as in correction to the down trend. Key resistance is now at 116.74, a break above this level may label the cycle bottom at 116.08. If the key resistance at 116.74 holds and the near term support at 116.08 is broken below, the pair would fall towards 115.57 level to reach its next cycle bottom on 4 hours chart.

[sdotwewen]

USDJPY’s down trend is limited by the price channel on daily chart, it has bottomed at 116.08 on 4 hours chart, and further rise towards 117.51 near term resistance to reach the next cycle top is possible later today. Key support is now at 116.08, only break below this level may signal the resumption of the down trend.
http://www.forexcycle.com/usdjpy.html

[sdotwewen]

As expected, USDJPY rose above 117.51, and further rise towards 118.00 to reach the next cycle top is possible in the next couple of days. Near term support is the bottom of the price channel now at 117.10, and as long as the price channel support holds, up trend will continue.
http://finance.groups.yahoo.com/group/forexcycle/

[sdotwewen]

USDJPY is in up trend and further rise to test 118.27 previous high resistance is possible in the next couple of days. Near term support is at the bottom of the price channel, key support is at 116.90, only break below the key support may signal the reversal to the up trend.