USDJPY Weekly Analysis – May 22, 2016

USDJPY broke above the downward trend line on daily chart. However, as long as 111.88 resistance holds, the rise from 105.54 could be treated as consolidation of the downtrend from 123.75, another fall towards 100.00 is still possible after consolidation. Only break above 111.88 key resistance could signal completion of the downtrend.

usdjpy chart