USDJPY Daily Analysis – April 23, 2014

USDJPY remains in uptrend from 101.32, and the rise extended to as high as 102.72. Further rise is still possible after a minor consolidation, and next target would be at 103.00 area. Support is at the bottom of the price channel on 4-hour chart, only a clear break below the channel support will indicate that the uptrend from 101.32 had completed, then the following downward movement could bring price back to re-test 101.20 support.

usdjpy chart