USDJPY Weekly Analysis – November 29, 2015

USDJPY remains in short term uptrend from 118.16, the fall from 123.75 is likely consolidation of the uptrend. Further rise to test 125.85 resistance is still possible, a break of this level will signal resumption of the long term uptrend from 75.57 (Oct 31, 2011 low), then next target would be at 135.00 area. Near term support is at 122.00, only break below this level could bring price back to 118.00 zone.

usdjpy chart