USDJPY Weekly Analysis – May 8, 2016

USDJPY stays below the downward trend line on daily chart, and remains in downtrend from 123.75. As long as the trend line resistance holds, the downtrend could be expected to continue, and next target would be at 100.00 area. On the upside, a clear break above the trend line resistance will indicate that the downtrend had completed at 105.54 already, then the following upward movement could bring price to 116.00 area.

usdjpy chart