USDJPY Weekly Analysis – September 4, 2016

USDJPY is forming a sideways consolidation in a range between 98.97 and 107.48. As long as 107.48 resistance holds, the sideways movement could be treated as consolidation of the downtrend from 123.75 (Nov 18, 2015 high). Lengthier consolidation in the range could be seen in a couple of weeks.

usdjpy chart