USDJPY Weekly Analysis – December 21, 2014

After touching the lower line of the price channel on daily chart, USDJPY rebounded from 115.56, indicating that the pair remains in uptrend from 101.06, and the fall from 121.84 could be treated as consolidation of the uptrend. As long as the channel support holds, the uptrend could be expected to resume, and next target would be at 130.00 area. Key support is now at 115.56, only break below this level could signal completion of the uptrend.

usdjpy chart