USDJPY Daily Analysis – November 1, 2016

USDJPY stays above the upward trend line on 4-hour chart, and remains in uptrend from 103.16. As long as the trend line support holds, the fall from 105.53 could be treated as consolidation of the uptrend. Further rise is still possible and next target would be at 106.00 area. However, a clear break below the trend line support will indicate that the uptrend had completed at 105.53 already, then the following downward movement could bring price back to 101.00 area.

usdjpy chart