USDJPY Daily Analysis – October 8, 2014

USDJPY broke below 108.00 support, indicating that lengthier consolidation for the uptrend from 101.06 (Jul 10 low) is needed. Range trading between 107.00 and 110.08 would likely be seen over the next several days. However, the uptrend could be expected to resume after consolidation, and a break above 110.08 resistance could trigger another rise towards 115.00.

usdjpy chart