USDJPY Daily Analysis – January 23, 2015

No changed in our view, USDJPY remains in short term uptrend from 115.85. Another rise to test 120.82 resistance would likely be seen, a break of this level will signal resumption of the longer term uptrend from 101.06 (Jul 10, 2014 low), then the following upward movement could bring price to 125.00 area. However, as long as 120.82 resistance holds, the sideways movement in a range between 115.56 and 121.84 could be expected to continue.

usdjpy chart