USDJPY Daily Analysis – March 10, 2014

USDJPY remains in uptrend from 101.20, the fall from 103.76 could be treated as consolidation of the uptrend. Range trading between 102.60 and 103.76 would likely be seen. Support is at 102.60, as long as this level holds, another rise could be expected, and next target would be at 104.50 area. Only break below 102.60 support will signal completion of the uptrend from 101.20, then the following downward movement could bring price back towards 98.00.

usdjpy chart