USDJPY Analysis – April 6, 2013

After consolidation, USDJPY continues its upward movement from 77.14, and the rise extends to as high as 97.82. Further rise could be expected next week, and next target would be at 100.00 area. Key support is at 92.56, only break below this level could signal completion of the uptrend.

For long term analysis, USDJPY had formed a cycle bottom at 77.14 on weekly chart. Further rise towards 105.00 is possible over the next several weeks.

usdjpy daily chart