USDJPY Weekly Analysis – February 22, 2014

USDJPY broke above the upper line of the price channel on daily chart, suggesting that the downward movement from 105.44 had completed at 100.75 already. Further rise could be expected next week, and next target would be at 104.00 area. However, the rise from 100.75 would possibly be correction of the downtrend from 105.44, as long as 105.44 key resistance holds, another fall towards 95.00 is still possible.

usdjpy chart