USDJPY Weekly Analysis – November 5, 2017

USDJPY remains in the uptrend from 107.31. Further rise to test 115.50 key resistance is possible next week. Above this level could signal resumption of the long term uptrend from 98.97 (Jun 24, 2016 low), then next target would be at 118.66 (Dec 15, 2016 high) previous high. Key support is at 111.47, only a breakdown below this level could indicate that the uptrend from 107.31 is complete, then the following downside movement could bring price back to 109.50 zone.

USDJPY daily chart