by: Forex Cycle
USDJPY remains in short term uptrend from 95.62 and is testing 99.74 resistance, above this level will signal further rally to 100.00-100.50 area. Initial support is at 98.90 followed by 98.50. As long as 98.90 support holds, we’d expect uptrend to continue. However, below 98.50 will suggest that a short term cycle top has been formed and range trading between 98.00 and 100.00 is expected to follow.
