USDJPY Weekly Analysis – May 10, 2014

USDJPY is facing 100.75 support again, a breakdown below this level will indicate that the uptrend from 93.79 (Jun 13, 2013 low) had completed at 105.44 already, then the following downward movement could bring price to 96.00 area. On the upside, as long as 100.75 support holds, the price action from 105.44 would possibly be consolidation of the uptrend, one more rise to 110.00 area is still possible.

usdjpy chart