USDJPY Weekly Analysis – July 8, 2017

USDJPY’s upward movement from 108.81 extended to as high as 114.17. Further rise to retest 115.50 resistance could be expected next week. Above this level will indicate that the long term uptrend from 98.97 (Jun 24, 2016 low) has resumed, then next target would be at 120.00 area. Near term support is at 112.60, only a breakdown below this level could bring price back into 110.00 zone.

USDJPY daily chart