USDJPY Analysis – April 14, 2013

USDJPY’s upward movement from 77.14 (Sep 13, 2012 low) extends to as high as 99.94. Further rise is still possible, and next target would be at 102.00 area. Support is now at 96.00, as long as this level holds, the uptrend will continue.

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