USDJPY Weekly Analysis – January 25, 2015

USDJPY is forming a sideways consolidation in a range between 115.56 and 121.84. The sideways movement could be seen to continue in a couple of weeks. As long as 115.56 support holds, the uptrend from 101.06 (Jul 10, 2014 low) could be expected to resume, and another rise to 130.00 is still possible. However, a breakdown below 115.56 support will indicate that lengthier consolidation for the uptrend is underway, then the pair will find support around 112.00.

usdjpy chart