USDJPY Daily Analysis - September 29, 2016

Short Term Forex Analysis | by ForexCycle.com | Thursday, 29 September 2016 03:27 UTC
USDJPY stays below the downward trend line on 4-hour chart. As long as the trend line resistance holds, the pair is in downtrend from 104.31, and the rise from 100.08 could be treated as consolidation of the downtrend. Further decline to test 99.52 (Aug 16 low) support is still possible after consolidation. Only a clear break above the trend line resistance could signal completion of the downtrend.

usdjpy chart

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