USDJPY Weekly Analysis – November 8, 2015

USDJPY broke above 121.62 resistance, and continued its upward movement from 116.13, and the rise extended to as high as 123.26. Further rise to test 125.85 resistance is possible, a break of this level will indicate that the long term uptrend from 75.57 (Oct 31, 2011 low) has resumed, then next target would be at 135.00 area.

usdjpy chart