USDJPY Daily Analysis – January 26, 2015

USDJPY remains in short term uptrend from 115.85, the fall from 118.86 is likely consolidation of the uptrend. Further rise to test 120.82 resistance could be expected after consolidation, 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.

usdjpy chart