USDJPY Analysis – June 23, 2013

USDJPY remains in downtrend from 103.73, the rise from 93.79 is likely correction of the downtrend. Range trading between 93.79 and 100.00 would likely be seen in a couple of weeks. Resistance is at 100.00, as long as this level holds, the downtrend could be expected to resume, and another fall towards 85.00 is still possible.

usdjpy daily chart