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USDJPY remains in uptrend from 93.79

Discussion in 'Technical Analysis' started by ForexCycle.com, Jun 24, 2013.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    USDJPY remains in uptrend from 93.79, the fall from 98.70 is likely minor consolidation of the uptrend. Further rise could be expected after consolidation, and next target would be at 100.00 area. Support is at 96.80, as long as this level holds, the uptrend will continue. On the downside, a breakdown below 96.80 support will indicate that the upward movement from 93.79 has completed at 98.70 already, then the following downward movement could bring price back to test 93.79 support.

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