USDJPY Weekly Analysis – November 6, 2016

USDJPY continued its sideways movement in a range between 98.97 and 107.48. Another fall to test 98.97 support would likely be seen, a breakdown below this level will signal resumption of the long term downtrend from 125.85 (Jun 5, 2015 high), then next target would be at 90.00 area. Key resistance is at 107.48, only break above this level could signal completion of the downtrend.

usdjpy chart