USDJPY Daily Analysis – September 24, 2014

USDJPY stays above the upward trend line on 4-hour chart, and remains in uptrend from 101.50, the fall from 109.45 could be treated as consolidation of the uptrend. Key support is now at 108.24, as long as this level holds, the uptrend could be expected to resume, and next target would be at 110.00 area. On the downside, a breakdown below 108.24 support will indicate that the uptrend had completed at 109.45 already, then deeper decline to 106.50 area could be seen.

usdjpy chart