USDJPY Daily Analysis – March 11, 2014

USDJPY is in consolidation of the uptrend from 101.20, range trading between 102.60 and 103.76 is possible in a couple of days. As long as 102.60 support holds, the uptrend could be expected to resume, and next target would be at 104.50 area. On the downside, a breakdown below 102.60 support will indicate that the uptrend from 101.20 had completed at 103.76 already, then another fall towards 98.00 could be seen.

usdjpy chart