USDJPY Daily Analysis – July 8, 2014

USDJPY broke below 101.90 support, indicating that the uptrend from 101.23 had completed at 102.26 already. However, the fall from 102.26 would possibly correction of the uptrend, as long as 101.23 support holds, the uptrend could be expected to resume, and one more rise to 103.50 area is still possible. Only break below 101.23 support could trigger another fall to re-test 100.75 key support.

usdjpy chart