USDJPY Weekly Analysis – December 29, 2013

USDJPY’s upward movement from 96.57 extended to as high as 105.18. Support is located at the lower line of the price channel on daily chart, as long as the channel support holds, the uptrend could be expected to continue, and next target would be at 107.00 area. On the downside, a clear break below the channel support will indicate that the upward movement from 96.57 is complete, then the following downward movement could bring price back to 95.00 zone.

usdjpy chart