USDJPY Daily Analysis – October 29, 2014

USDJPY remains in uptrend from 105.32, the fall from 108.34 is likely consolidation of the uptrend. Key support is now at 107.60, as long as this level holds, the uptrend could be expected to continue, and next target would be at 109.50 area. On the downside, a breakdown below 107.60 support will indicate that the uptrend had completed at 108.34 already, then deeper decline to 106.50 area could be seen.

usdjpy chart