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USDJPY remains in uptrend from 101.32

Discussion in 'Technical Analysis' started by ForexCycle.com, Apr 22, 2014.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    USDJPY remains in uptrend from 101.32, and the rise extended to as high as 102.72. Further rise is still possible after a minor consolidation, and next target would be at 103.00 area. Support is at the bottom of the price channel on 4-hour chart, only a clear break below the channel support will indicate that the uptrend from 101.32 had completed, then the following downward movement could bring price back to re-test 101.20 support.

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