USDJPY Weekly Analysis – July 13, 2014

USDJPY is facing 100.75 support again, a breakdown below this level will signal completion of the uptrend from 75.57 (Oct 31, 2011 low), then deeper decline to 97.00 area could be seen. On the upside, as long as 100.75 support holds, the price action from 105.44 could be treated as consolidation of the uptrend, one more rise to 110.00 area is still possible.

usdjpy chart