USDJPY Analysis - February 4, 2012 Bookmark and Share
Forex Market Analysis  |  Written by ForexCycle.com |  Saturday, 04 February 2012 04:29 GMT
USDJPY continued its sideways movement in a range between 75.57 and 79.52. Lengthier consolidation in the range is still possible in a couple of weeks, and another rise towards 79.52 would likely be seen before breaking below 75.57 previous low.

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 months.

usdjpy daily chart
 

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