USDJPY Daily Analysis – November 18, 2014

USDJPY remains in uptrend from 105.32, the fall from 117.05 is likely consolidation o f the uptrend. Support is located at the bottom of the price channel on 4-hour chart. As long as the channel support holds, the uptrend could be expected to continue and next target would be at 119.00 area. Key support is at 113.86, only break below this level could signal completion of the uptrend.

usdjpy chart