USDJPY Weekly Analysis – May 31, 2014

USDJPY moved sideways above 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 100.00 area is still possible after consolidation. On the downside, a breakdown below 100.75 support will indicate that the uptrend had completed at 105.44 already, then the following downward movement could bring price back to 96.00 zone.

usdjpy chart