USDJPY Weekly Analysis – October 12, 2014

USDJPY broke below the lower line of the price channel on daily chart, indicating that consolidation of the uptrend from 101.06 is underway. Range trading between 106.50 and 110.08 would likely be seen in a couple of weeks. Resistance is at 110.08, a break of this level will signal resumption of the uptrend, then next target would be at 115.00 area.

usdjpy chart