USDJPY Weekly Analysis – January 30, 2016

After touching 116.13 support, USDJPY rebounded from 115.97, indicating that the pair remains in long term uptrend from 75.57 (Oct 31, 2011 low), the price action from 125.85 (Jun 5, 2015 high) could be treated as consolidation of the uptrend. Further rise to 130.00 area to complete the long term uptrend is possible over the next several months.

usdjpy chart