USDJPY Daily Analysis – October 3, 2014

USDJPY broke below 108.24 support, indicating that consolidation of the uptrend from 101.06 (Jul 10 low) is underway. Range trading between 107.00 and 110.08 would likely be seen over the next several days. Key support is at 107.00, as long as this level holds, the uptrend could be expected to resume, and another rise towards 115.00 is still possible.

usdjpy chart