USDJPY Daily Analysis – June 6, 2014

USDJPY remains in uptrend from 100.83, the fall from 102.79 could be treated as consolidation of the uptrend. Support is located at the upward trend line on 4-hour chart, as long as the trend line support holds, the uptrend could be expected to resume, and next target would be at 103.50 area. On the downside, a clear break below the trend line support will indicate that the uptrend had completed at 102.79 already, then the following downward movement could bring price back to re-test 100.75 key support.

usdjpy chart