USDJPY Daily Analysis – January 6, 2015

USDJPY failed to break above 120.82 resistance and stayed in a trading range between 118.86 and 120.82. However, another rise to re-test 120.82 resistance is possible, a break of this level will indicate that the uptrend from 115.56 has resumed, then next target would be at 125.00 area. Support is at 118.86, only break below this level could trigger another fall to 115.00 area.

usdjpy chart