USDJPY Weekly Analysis – August 7, 2016

USDJPY remains in downtrend from 123.75 (Nov 18, 2015 high). Further decline could be expected after a minor consolidation, and next target would be at 95.00 area. Near term resistance is at the downward trend line on daily chart, and the key resistance is at 107.48, only break above this level could signal completion of the downtrend.

usdjpy chart