USDJPY Daily Analysis – August 28, 2014

USDJPY’s fall from 104.26 extended to as low as 103.69. Support is at 103.49, as long as this level holds, the fall could be treated as consolidation of the uptrend from 101.50, another rise to 105.00 area is still possible. On the downside, a breakdown below 103.49 support will indicate that the uptrend had completed at 104.26 already, then deeper decline to 102.80 area could be seen.

usdjpy chart