USDJPY Weekly Analysis – January 10, 2015

USDJPY failed to break above 121.84 resistance and stayed in the trading range between 115.56 and 121.84. Sideways movement could be expected to continue in a couple of weeks. However, as long as 115.56 support holds, the sideways movement could be treated as consolidation of the uptrend from 101.06 (Jul 10, 2014 low), one more rise towards 130.00 area is still possible after consolidation.

usdjpy chart