USDJPY Analysis - January 21, 2012 Bookmark and Share
Forex Market Analysis  |  Written by ForexCycle.com |  Saturday, 21 January 2012 03:23 GMT
USDJPY stays in a trading range between 75.57 and 79.52. Lengthier consolidation in the range is still possible over the next several weeks. Now the pair may be forming a cycle bottom at 76.55 on daily chart, a break above 77.32 resistance could trigger another rise towards 79.52.

For long term analysis, USDJPY had formed a cycle bottom at 75.57 on weekly chart. Further rally towards 85.00 would likely be seen over the next several weeks.

usdjpy daily chart
 

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