USDJPY Daily Analysis – March 4, 2014

USDJPY remains in downtrend from 102.82, and the fall extended to as low as 101.20. Resistance is at the upper line of the price channel on 4-hour chart, as long as the channel resistance holds, the downtrend could be expected to continue, and next target would be at 100.00 area. On the upside, a clear break above the channel resistance will indicate that the downtrend from 102.82 had completed, then another rise to 103.50 area could be seen.

usdjpy chart