USDJPY Daily Analysis – August 5, 2014

USDJPY stays in a upward price channel on 4-hour chart, and remains in uptrend from 101.06. As long as the channel support holds, the uptrend could be expected to continue, and next target would be at 103.80 area. Key support is at 102.33, only break below this level will indicate that the uptrend had completed at 103.08 already, then deeper decline to test 100.75 support could be seen.

usdjpy chart