USDJPY Daily Analysis – January 9, 2015

USDJPY remains in uptrend from 115.56, the fall from 120.82 could be treated as consolidation of the uptrend. Support is at 118.05, as long as this level holds, the uptrend could be expected to resume, and next target would be at 125.00 area. On the downside, a breakdown below 118.05 support will signal completion of the uptrend, then the following downward movement could bring price to 115.00 area.

usdjpy chart