USDJPY Weekly Analysis – January 29, 2017

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

usdjpy chart