USDJPY Weekly Analysis – December 8, 2013

USDJPY is facing 103.73 resistance, a break above this level will confirm that the uptrend from 75.57 (Oct 31, 2011 low) has resumed, then the following upward movement could bring price to 110.00 area. Support is at the lower line of the price channel on daily chart, only a clear break below the channel support will indicate that the upward movement from 96.57 is complete, then another fall towards 95.00 could be seen.

usdjpy daily chart