USDJPY Weekly Analysis – December 22, 2013

USDJPY broke above 103.73 resistance, suggesting that the uptrend from 75.57 (Oct 31, 2011 low) has resumed. Further rise could be expected over the next several weeks, and next target would be at 107.00 area. Support is located at the lower line of the price channel on daily chart, only a clear break below the channel support could bring price back to 95.00 zone.

usdjpy daily chart