USDJPY Daily Analysis – May 2, 2014

USDJPY moved sideways in a range between 101.96 and 102.78. As long as 101.96 support holds, the price action from 102.72 could be treated as consolidation of the uptrend from 101.32, another rise to 103.50 area could be expected after consolidation. Only break below 101.96 support could signal completion of the uptrend.

usdjpy chart