USD/JPY Daily Chart" title="USD/JPY Daily Chart" width="652" height="336">
USD/JPY: 102.89
Short-Term Trend: uptrend
Outlook: The USD/JPY remains in strong uptrend as the prices are firmly above the rising 21-day moving average. That is exactly what one can expect after the big upside breakout we saw a couple of weeks ago. As said before, the minimum upside objective is seen at 104.65, but most likely we will see much higher prices in Q1 of 2014.
On the downside, only below 100.60 (previous resistance, now support) will weaken and will signal that probably something else is going on here.
Strategy: Holding long from 100.60 is favored. Stop at 100.60.