USDJPY Daily Analysis – January 29, 2015

USDJPY continued its sideways movement in a narrow range between 117.17 and 118.86. Near term support is at 117.17, as long as this level holds, the sideways movement could be treated as consolidation of the uptrend from 115.85, another rise to test 120.82 resistance is still possible after consolidation.

usdjpy chart