USDJPY Weekly Analysis - August 17, 2014

Long Term Forex Analysis | by ForexCycle.com | Sunday, 17 August 2014 06:24 UTC
USDJPY moved sideways in a narrow range between 100.75 and 104.12 for several months. 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 towards 110.00 is still possible after consolidation. On the other side, a breakdown below 100.75 support will signal completion of the uptrend, then further decline to 97.00 area could be seen.

usdjpy chart

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