USDJPY Weekly Analysis - July 24, 2016

Long Term Forex Analysis | by ForexCycle.com | Sunday, 24 July 2016 09:14 UTC
USDJPY is testing that resistance of the downward trend line on daily chart. A clear break above the trend line resistance will indicate that the downtrend from 123.75 (Nov 18, 2015 high) had completed at 98.97 already, then the following upward movement could bring price to 115.00 zone. On the downside, as long as the trend line resistance holds, the downtrend could be expected to continue and next target would be at 95.00 area.

usdjpy chart

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