USDJPY Weekly Analysis – September 7, 2014

USDJPY broke above 105.44 (Jan 2 high) resistance, indicating that the long term uptrend from 75.57 (Oct 31, 2011 low) has resumed. Further rise could be expected over the next several weeks, and next target would be at 110.00 area. Support is at 104.00, only break below this level will indicate that lengthier consolidation for the long term uptrend is needed, then pullback to 102.00 area could be seen.

usdjpy chart