USDJPY Weekly Analysis – January 22, 2017

USDJPY is in consolidation of the uptrend from 98.97 (Jun 24, 2016 low). Range trading between 110.00 and 118.66 would likely be seen over the next several weeks. As long as 110.00 support holds, the uptrend could be expected to resume, and further rise to 123.00 area is still possible after consolidation.

usdjpy chart