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USDJPY remains in uptrend from 95.81

Discussion in 'Technical Analysis' started by ForexCycle.com, Sep 15, 2013.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    USDJPY remains in uptrend from 95.81, the price action from 100.22 is treated as consolidation of the uptrend. Key support is located a the lower line of the price channel on 4-hour chart, as long as the channel support holds, the uptrend could be expected to resume, and one more rise to 101.50 area is still possible. On the downside, a clear break below the channel support will suggest that the uptrend from 95.81 had completed at 100.60 already, then deeper decline to 95.00 area could be seen.


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