USDJPY Daily Analysis – June 11, 2014

USDJPY moved sideways in a trading range between 102.11 and 102.79. Key support is at 102.11, as long as this level holds, the price action in the range could be treated as consolidation of the uptrend from 100.83, one more rise to 103.50 area is still possible. On the downside, a breakdown below 102.11 support will indicate that the uptrend had completed at 102.79 already, then deeper decline to test 100.75 support could be seen.

usdjpy chart