USDJPY Daily Analysis – May 15, 2014

USDJPY moved sideways in a range between 101.32 and 103.02. A breakdown below 101.32 support will indicate that the downtrend from 104.12 has resumed, then the following downward movement could bring price to 96.00 area. However, as long as 101.32 support holds, the sideways movement could be expected to continue, and another rise to test 103.02 resistance is still possible.

usdjpy chart