USDJPY Daily Analysis – February 20, 2014

USDJPY is now in uptrend from 100.75, the price action from 102.70 could be treated as consolidation of the uptrend. Support is at 101.35, as long as this level holds, the uptrend could be expected to resume, and next target would be at 104.00 area. On the downside, a breakdown below 101.35 support will indicate that the pair remains in downtrend from 105.44, and next target would be at 98.00 zone.

usdjpy chart