USDJPY Daily Analysis – March 18, 2014

Being contained by 101.20 support, USDJPY rebounded to 101.94, suggesting that consolidation of the downtrend from 103.76 is underway. Range trading between 101.20 and 102.50 would likely be seen in a couple of days. As long as 102.50 resistance holds, another fall to re-test 101.20 support is still possible, a breakdown below this level will target 98.00 zone.

usdjpy chart