Technical analysis of USD/JPY for March 11, 2014 Trend News

USD/JPY remains in uptrend from 101.20, the fall from 103.76 could be treated as consolidation of the uptrend. Range trading between 102.60 and 103.76 would likely be seen. Support is at 102.60, as long as this level holds, another rise could be expected, and the next target would be at 104.50 area. Only a break below the 102.60 support will signal the completion of the uptrend from 101.20, then the following downward movement could bring price back towards 101.20, 100.76, and 98.00. Until the pair holds the previous low at 101.20, up move will continue up to 104.06 and 105.44.

POSITIONAL-

S1 103.00 R1 103.76

S2 102.57 R2 104.04

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