USDJPY Daily Analysis – December 23, 2014

USDJPY remains in short term uptrend from 115.56, further rise to test 121.84 resistance could be expected, a break of this level will signal resumption of the longer term uptrend from 105.19 (Oct 15 low), then the following upward movement could bring price to 125.00 area. Support is at 118.80, only break below this level will indicate that sideways movement is underway, then the trading range would be between 115.56 and 121.84.

usdjpy chart