Short Term Analysis - September 26, 2006

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USDJPY
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.
EURUSD
EURUSD is in up trend, the fall from 1.2829 is treated as in correction to the up trend, and further rise above 1.2829 towards 1.2878 to reach the next cycle top is still possible in the next couple of days. Key support is at 1.2712, only break below the level may signal the reversal to the up trend.
USDCAD
USDCAD is in down trend, further fall below 1.1118 to reach the next cycle bottom is possible in the next couple of days. Key resistance is at 1.1205, only break above this level may signal the reversal to the down trend.
AUDUSD
AUDUSD is in down trend, the rebound from 0.7489 is treated as in correction to the down trend, and further fall below 0.7483 is still possible in the next couple of days. Key resistance is at 0.7577, only break above this level may signal the reversal to the down trend.
USDCHF
USDCHF is in correction to the down trend, further fall below 1.2291 to reach the next cycle bottom is possible after this correction. Key resistance is at 1.2541, only break above this level may signal the reversal to the down trend.
GBPUSD
GBPUSD is in up trend and further rise above 1.9072 to reach the next cycle top is possible in the next couple of days. Key support is at 1.8862, only break below this level may signal the reversal to the up trend.