USDJPY Daily Analysis – July 14, 2014

USDJPY broke below 101.23 support and reached as low as 101.06. Further decline to test 100.75 support is possible, a breakdown below this level will signal completion of the long term uptrend from 75.57 (Oct 31, 2011 low), then next target would be at 97.00 area. Resistance is at 101.50, only break above this level will indicate that the downward movement from 102.26 had completed, then next target would be at 102.50 area.

usdjpy chart