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USDJPY Weekly Analysis - January 24, 2016

Long Term Forex Analysis | by ForexCycle.com | Sunday, 24 January 2016 07:37 UTC
USDJPY broke below 116.13 support, indicating that the long term uptrend from 75.57 (Oct 31, 2011 low) had completed at 125.85 (Jun 5, 2015 high) already. Further decline could be expected after a minor consolidation, and next target would be at 105.00 area. Near term resistance is at 120.00, only break above this level could bring price back to test 123.75 resistance.

usdjpy chart

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