USDJPY Weekly Analysis – October 2, 2016

USDJPY is forming a sideways consolidation in a range between 98.97 and 107.48. As long as 107.48 key resistance holds, the downtrend from 123.75 (Nov 18, 2015 high) could be expected to continue, and next target would be at 90.00. Only break above 107.48 resistance could signal completion of the downtrend.

usdjpy chart