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USDJPY remains in uptrend from 96.94

Discussion in 'Technical Analysis' started by ForexCycle.com, Dec 11, 2013.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

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    USDJPY remains in uptrend from 96.94 (Oct 25 low), the price action in the trading range between 101.63 and 103.39 could be treated as consolidation of the uptrend. Initial support is at 101.63, as long as this level holds, the uptrend could be expected to resume, and another rise towards 105.00 is still possible. Key support is at 101.00, only break below this level will indicate that the uptrend from 96.94 had completed at 103.39 already, then the following downward movement could bring price back to 95.00 zone.

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