USDJPY's upward movement from 101.06 extended to as high as 118.97.
The uptrend could be expected to continue after a minor consolidation, and next target would be at 125.00 area.
Near term support is at 115.45, only break below this level will indicate that consolidation of the uptrend is underway, then deeper decline to 114.00 area could be seen.
Editor’s Note: Equity investors/traders can use the Currency Shares Japanese Yen Trust (FXY, quote) ETF to take positions in the yen without a FOREX account. The ETF looks to track the price of the Japanese Yen (USDJPY), minus ETF fee. The fund seeks to reflect the price of the Japanese yen (USDJPY) with the shares representing a cost-effective investment relative to investing in the FOREX market.
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