USDJPY Daily Analysis – January 17, 2014

USDJPY remains in uptrend from 96.57 (Oct 8, 2013 low), the price action from 105.44 could be treated as consolidation of the uptrend. Resistance is at 105.44, a break above this level will signal resumption of the uptrend, then the following upward movement could bring price to 110.00 area. Key support is at 102.85, only break below this level could signal completion of the uptrend.

usdjpy chart