USDJPY Analysis – July 27, 2013

USDJPY continues its sideways movement in a range between 93.79 and 103.73. Key support is at 93.79, as long as this level holds, the price action in the range could be treated as consolidation of the uptrend from 75.57 (Oct 31, 2011 low), one more rise towards 110.00 is still possible after consolidation.

usdjpy daily chart