USDJPY Daily Analysis – October 24, 2016

USDJPY continued its sideways movement in a range between 102.81 and 104.63. Key support is at 102.81, as long as this level holds, the sideways movement could be treated as consolidation of the uptrend from 100.08, and further rise to 106.00 area is still possible. However, a breakdown below 102.81 support will indicate that the uptrend had completed at 104.63 already, then the downward movement could bring price back to 100.00 zone.

usdjpy chart