USDJPY Daily Analysis – April 24, 2014

USDJPY broke below the bottom of the price channel on 4-hour chart, indicating that the uptrend from 101.32 had completed at 102.72 already. Deeper decline would likely be seen, and next target would be at 101.50 area. Resistance is now at 102.72, only break above this level could trigger another rise towards 104.50.

usdjpy chart