USDJPY Weekly Analysis – August 30, 2015

USDJPY remains in long term uptrend from 75.57 (Oct 31, 2011 low), the fall from 125.85 is likely consolidation of the downtrend. Range trading between 116.13 and 125.85 would likely be seen over the next several weeks. Key support is at 116.13, as long as this level holds, the uptrend could be expected to resume, and further rise towards 140.00 is still possible. Resistance is at 125.85, a break of this level could signal resumption of the uptrend.

usdjpy chart