USDJPY Analysis – April 21, 2013

USDJPY remains in uptrend from 77.14 (Sep 13, 2012 low), the fall from 99.94 is treated as consolidation of the uptrend. Another rise could be expected, and next target would be at 1.0200 area. Support is at 95.50, 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