USDJPY Weekly Analysis – April 12, 2014

USDJPY is facing 100.75 support again, a breakdown below this level will signal resumption of the downtrend from 105.44, then the next target would be at 95.00 area. On the upside, as long as 100.75 support holds, the price action in the trading range between 100.75 and 105.44 could be treated as consolidation of the uptrend from 93.79 (Jun 13, 2013 low), one more rise to 110.00 is still possible after consolidation.

usdjpy chart