USDJPY Weekly Analysis – November 22, 2015

USDJPY continued its short term uptrend from 118.16, and the rise extended to as high as 123.75. 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. Support is at 122.00, only break below this level will indicate that lengthier consolidation for the long term uptrend is underway, then another fall to 118.00 area could be seen.

usdjpy chart