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USDJPY stays above the upward trend line

Discussion in 'Technical Analysis' started by ForexCycle.com, Jun 8, 2014.

  1. ForexCycle.com

    ForexCycle.com Content Contributor

    Sep 1, 2008
    Likes Received:
    USDJPY stays above the upward trend line on 4-hour chart, and remains in uptrend from 100.83. As long as the trend line support holds, the fall from 102.79 could be treated as consolidation of the uptrend. The upward movement could be expected to continue after consolidation, and next target would be at 103.50 area. Key support is at 102.11, only break below this level will indicate that the uptrend had completed at 102.79 already, then the following downward movement could bring price back to re-test 100.75 key support.


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