USDJPY Analysis – October 13, 2013

USDJPY failed to break below 95.81 support, suggesting that lengthier sideways movement is underway. Key support is at 93.79, as long as this level holds, the price action from 103.73 is treated as consolidation of the uptrend from 75.57 (Oct 31, 2011 low), one more rise to 110.00 area is still possible after the sideways move.

usdjpy daily chart