USDJPY Weekly Analysis - August 3, 2014

Long Term Forex Analysis | by ForexCycle.com | Sunday, 03 August 2014 06:21 UTC
USDJPY failed to break below 100.75 key support, and stays in a trading range between 100.75 and 104.12. As long as 100.75 support holds, the price action in the range could be treated as consolidation of the uptrend from 75.57 (Oct 31, 2011 low), one more rise to 110.00 area is still possible after consolidation. On the downside, a breakdown below 100.75 support will indicate that the uptrend had completed at 105.44 already, then next target would be at 97.00 area.

usdjpy chart

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