USDJPY Weekly Analysis - August 10, 2014

Long Term Forex Analysis | by ForexCycle.com | Sunday, 10 August 2014 07:02 UTC
USDJPY continued its sideways movement in a trading range between 100.75 and 104.12. Key support is at 100.75, as long as this level holds, the sideways movement 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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