USDJPY Weekly Analysis – May 3, 2015

USDJPY stayed in the trading range between 115.56 and 122.02 for several months. As long as 115.56 support holds, the price action in the range 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