USDJPY Weekly Analysis – May 27, 2017

USDJPY remains in uptrend from 108.13, the fall from 114.36 is likely correction of the uptrend. Another rise to test 115.50 key resistance is possible in a couple of weeks, and a break of this level will confirm that the long term uptrend from the June 2016 low of 98.97 has resumed, then the following bullish movement could bring price to around 120.00. Support levels are at 110.00 and 109.60, only break below these levels could take price back to the downtrend from the December 2016 high of 118.66.

USDJPY Daily Chart
USDJPY Daily Chart