USDJPY Daily Analysis – September 16, 2014

USDJPY remains in uptrend from 101.50, the fall from 107.39 is likely consolidation of the uptrend. Range trading between 106.50 and 107.39 would likely be seen in a couple of days. Key support is located at the rising trend line on 4-hour chart, as long as the trend line support holds, the uptrend could be expected to resume and another rise towards 110.00 is still possible. Only a clear break below the trend line support could signal completion of the uptrend.

usdjpy chart