USDJPY Daily Analysis – December 10, 2014

USDJPY broke below the upward trend line on 4-hour chart, indicating that consolidation of the uptrend from 105.32 (Oct 15 low) is underway. Range trading between 117.23 and 121.84 would likely be seen over the next several days. Key support is at 117.23, as long as this level holds, the uptrend could be expected to resume, and another rise towards 130.00 is still possible after consolidation.

usdjpy chart