USDJPY Daily Analysis – December 15, 2014

USDJPY is facing 117.23 support, as long as this level holds, the fall from 121.84 could be treated as consolidation of the uptrend from 105.32 (Oct 15 low). Sideways movement in a range between 117.23 and 121.84 would likely be seen over the next several days, and another rise towards 125.00 is still possible after consolidation.

usdjpy chart