USDJPY Weekly Analysis – May 17, 2014

USDJPY is testing 100.75 key support, as long as this level holds, the price action from 105.44 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. However, a breakdown below 100.75 support will indicate that the uptrend from 93.79 had completed at 105.44 already, then deeper decline to 96.00 area could be seen.

usdjpy chart