USDJPY Daily Analysis – January 28, 2014

USDJPY remains in downtrend from 104.92, the rise from 101.77 is likely consolidation of the downtrend. Resistance levels are at 103.00 and 103.35, as long as these levels hold, the downtrend could be expected to resume, and next target would be at 100.50 area.

usdjpy chart