USDJPY Daily Analysis – February 5, 2014

USDJPY remains in downtrend from 104.92, the rise from 100.75 could be treated as consolidation of the downtrend. Resistance is at 102.35, as long as this level holds, the downtrend could be expected to resume, and next target would be at 99.00 area. Only break above 102.35 resistance could signal completion of the downtrend.

usdjpy chart