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USDJPY remains in uptrend from 96.94

Discussion in 'Technical Analysis' started by ForexCycle.com, Jan 9, 2014.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    USDJPY remains in uptrend from 96.94 (Oct 25, 2013 low), the price action from 105.44 could be treated as consolidation of the uptrend. Key support is at 103.91, as long as this level holds, the uptrend could be expected to resume, and one more rise towards 110.00 is possible. On the downside, a breakdown below 103.91 support will signal completion of the uptrend, then the downward movement could bring price back to 95.00 zone.


    Provided by ForexCycle.com

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