USDJPY Analysis – June 29, 2013

USDJPY’s rise from 93.79 extends to as high as 99.44. Further rise is still possible next week, and next target would be at 101.00 – 102.00 area. Now the price action from 103.73 is likely consolidation of the long term uptrend from 77.57 (Oct 31, 2011 low), range trading between 93.79 and 103.73 could be expected over the next several weeks.

usdjpy daily chart