USDJPY Analysis – August 3, 2013

USDJPY moves sideways in a range between 93.79 and 103.73. The price action in the range is likely consolidation of the uptrend from 75.57 (Oct 31, 2011 low), as long as 93.79 key support holds, the uptrend could be expected to resume, and one more rise towards 110.00 is still possible after consolidation.

usdjpy daily chart