Yen Vs US Dollar Weekend update USDJPY

• Month of USDJPY is likely to hit 100 - 101 Levels for this breakdown. There could be bounces at 105 and 103 Levels which is likely to be small. If the Daily structure remains like what is shown above price is likely to hit the Monthly Target soon.

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USDJPY Chart analysis

• USD/JPY Weekly chart showing recovery from historic lows.
• But the current up move may find resistance at 85.80 and if manages to close and trade above this level this pair can give 88.16. 
• Anything above will be possible only if the pair breaks out above the strong weekly down trend line.

Trend is your friend - USDJPY

• USDJPY daily chart with the resisting trend line.
• Currency pair will remain under pressure as long as it stands below this trend line.
• Break of 80.24 may trigger the next down move for this pair

USDJPY Breaks support line

• USDJPY has broken important support at 80.81.
• This area will act as resistance now.
• 81 area is also an important support in the monthly chart.