USDJPY’s rise from 95.81 extends to as high as 98.34. Further rise to test the resistance of the downward trend line would likely be seen, as long as the trend line resistance holds, the rise from 95.81 could be treated as consolidation of the downtrend from 101.53, another fall to 95.00 to completed the downward movement is still possible. On the upside, a clear break above the trend line resistance will indicate that the downtrend from 101.53 had completed at 95.81 already, then further rise to test 103.73 (May 22 high) resistance could be seen.
Provided by ForexCycle.com
