USDJPY Weekly Analysis – June 12, 2016

USDJPY stayed in the trading range between 105.54 and 111.88. As long as 111.88 resistance holds, the price action in the range could be treated as consolidation of the downtrend from 123.75, and further decline to 100.00 area could be expected after consolidation. Only break above 111.88 resistance could signal completion of the downtrend.

usdjpy chart