USDJPY Weekly Analysis – May 31, 2015

USDJPY broke above 1.2202 resistance, indicating that the long term uptrend from 75.57 (Oct 31, 2011) has resumed. Further rise could be expected after a minor consolidation, and next target would be at 130.00 area. Near term support is at 122.50, as long as this level holds, the uptrend will continue.

usdjpy chart