USDJPY Forecast May 28 2014

We are in bullish mode on USDJPY currency pair

Technical analysis for USDJPY

USDJPY Forecast

On weekly chart we can see that USDJPY is still holding the green uptrend line. At the same time its holding the 101.0 level strong support. It seems that its strongly hold the support to go further upward. Its bounced from the Fibonacci 38.2 level and ranging between 38.2 to 23.8 range from the last couple of weeks. still no sign to go downward.

USDJPY technical analysis daily chart

On the daily chart we can see that its just bounced from the trend line, might touch it again, if it can hold this trend line withing coming one or two days we can go for long on USDJPY.