USD/JPY technical outlook for August 21, 2014

USD/JPY uptrend going on with a new multimonth high. Long position with stop-loss @ 103. Next target is December 2013 high over 105. Please note that there is some old support turned into resistance around current levels, as well as a trendline in the long-term chart (see chart below).

USDJPY(Monthly)20140821

Chart courtesy of investing.com

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