USDJPY Weekly Analysis – September 27, 2014

USDJPY remains in uptrend from 101.06, and the rise extended to as high as 109.53. Support is now located at the bottom of the price channel on daily chart. As long as the channel support holds, the uptrend could be expected to continue, and next target would be at 115.00 area. Only a clear break below the channel support will indicate that correction of the uptrend is underway, then deeper decline to 106.50 area could be seen.

usdjpy chart