USDJPY Weekly Analysis – May 15, 2016

USDJPY remains in downtrend from 123.75, the rise from 105.54 is likely consolidation of the downtrend. Near term resistance is at the downward trend line on daily chart, as long as the trend line resistance holds, the downtrend could be expected to continue and next target would be at 100.00 area. Key resistance is at 111.88, only break above this level could signal completion of the downtrend.

usdjpy chart