USDJPY Analysis – September 28, 2013

USDJPY is forming a triangle pattern in a range between 93.79 and 103.73. Key support is at 93.79, as long as this level holds, the price action in the pattern could be treated as consolidation of the uptrend from 75.57 (Oct 31, 2011 low), deeper decline to 96.50 area to complete the consolidation is possible over the next several weeks.

usdjpy daily chart