USDJPY Daily Analysis – August 29, 2014

USDJPY moved sideways in a range between 103.49 and 104.26. As long as 103.49 support holds, the price action in the range could be treated as consolidation of the uptrend from 101.50, further rise could be expected after consolidation, and next target would be at 105.00 area. Only break below 103.49 support could signal completion of the uptrend.

usdjpy chart