USDJPY Weekly Analysis – October 30, 2016

USDJPY remains in the sideways movement in a range between 98.97 and 107.48. Key resistance is at 107.48, as long as this level holds, the sideways movement could be treated as consolidation of the downtrend from 125.85 (Jun 5, 2015 high), further decline to 90.00 area is still possible after consolidation. Only break above 107.48 resistance could signal completion of the downtrend.

usdjpy chart