USDJPY Daily Analysis – December 19, 2013

USDJPY broke above 103.92 resistance and reached as high as 104.36. Key support is now located at the upward trend line on 4-hour chart, as long as the trend line support holds, the uptrend could be expected to continue, and next target would be at 105.00 area. Only a clear break below the trend line support could signal completion of the uptrend from 96.94 (Oct 25 low).

usdjpy daily chart