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USDJPY is now in downtrend from 102.68

Discussion in 'Technical Analysis' started by ForexCycle.com, Mar 27, 2014.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    USDJPY is now in downtrend from 102.68. Deeper decline to test 101.20 support would likely be seen, a breakdown below this level will confirm that the longer term downtrend from 103.76 has resumed, then the following downward movement could bring price to 98.00 zone. Resistance is at 102.68, only break above this level will indicate that lengthier sideways movement in a range between 101.20 and 103.76 is underway, then further rise to 103.50 area could be seen.

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