USDJPY Weekly Analysis – June 22, 2014

USDJPY continued moving sideways in a range between 100.75 and 105.44. The price action in the range is likely consolidation of the uptrend from 93.79 (Jun 13, 2013 low). As long as 100.75 support holds, one more rise to 110.00 area is still possible. On the downside, a breakdown below 100.75 support will signal completion of the uptrend, then deeper decline to 96.50 area could be seen.

usdjpy chart