USDJPY Weekly Analysis - July 17, 2016

Long Term Forex Analysis | by ForexCycle.com | Sunday, 17 July 2016 15:03 UTC
USDJPY is facing the resistance of the downward trend line on daily chart. As long as the trend line resistance holds, the bounce from 98.97 could be treated as consolidation of the downtrend from 123.75 (Nov 18, 2015 high), and further decline to 95.00 area is still possible. Only a clear break above the trend line resistance could signal completion of the downtrend.

usdjpy chart

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