USDJPY Daily Analysis – November 10, 2014

USDJPY remains in uptrend from 105.32, the fall from 115.50 is likely consolidation of the uptrend. Range trading between 113.17 and 115.50 would likely be seen in a couple of days. As long as 113.17 support holds, the uptrend could be expected to resume, and another rise to 117.00 area is still possible. On the downside, a breakdown below 113.17 support will indicate that the uptrend had completed at 115.50 already, then deeper decline to 110.00 area could be seen.

usdjpy chart