USDJPY Analysis – January 9, 2010

USDJPY remains in uptrend from 84.82. As long as 91.25 support holds, uptrend could be expected to continue and next target would be at 95.00-96.00 area. Only fall below 91.25 level will indicate that lengthier consolidation of uptrend is underway.

For long term analysis, USDJPY has formed a cycle bottom at 84.82 level on weekly chart. Bounce towards 100.00 area is expected in next several weeks.

usdjpy daily chart