USDJPY Weekly Analysis – April 26, 2015

USDJPY is forming a sideways consolidation in a range between 115.56 and 122.02. Another fall to 115.00 area to complete the consolidation would likely be seen over the next several weeks. Key support is at 112.00, as long as this level holds, the sideways movement could be treated as consolidation of the uptrend from 75.57 (Oct 31, 2011), one more rise to 130.00 area is still possible after consolidation.

usdjpy chart