USDJPY Daily Analysis – September 17, 2014

USDJPY stays above the upward trend line on 4-hour chart, and remains in uptrend from 101.50, the fall from 107.39 is likely consolidation of the uptrend. Near term support is at 106.50, as long as this level holds, the uptrend could be expected to continue, and next target would be at 110.00 area. Key support is located at the upward trend line on 4-hour chart, only a clear break below the trend line support could signal completion of the uptrend.

usdjpy chart