USDJPY Weekly Analysis – April 6, 2014

USDJPY continued its sideways movement in a range between 100.75 and 105.44. As long as 100.75 key support holds, the price action in the range could be treated as consolidation of the uptrend from 93.79 (Jun 13, 2013 low), one more rise to 110.00 area is still possible after consolidation. On the downside, a breakdown below 100.75 support will confirm the the uptrend had completed at 105.44 already, then deeper decline to 95.00 area could be seen.

usdjpy chart