USDJPY Daily Analysis – November 20, 2014

USDJPY continued its upward movement from 105.32, and the rise extended to as high as 118.36. Near term support is at the upward trend line on 4-hour chart, as long as the trend line support holds, the uptrend could be expected to continue, and next target would be at 120.00 area. Key support is at 115.45, only break below this level will signal completion of the uptrennd, then deeper decline to 113.00 area could be seen.

usdjpy chart