USD/JPY continued its sideways movement in a range between 115.56 and 122.02. Another fall to test 115.56 support is possible, as long as this level holds, the sideways movement could be treated as consolidation of the uptrend from 101.06 (Jul 10, 2014 low), one more rise towards 130.00 is still possible after consolidation. Resistance is at 122.02, a break of this level could signal resumption of the uptrend.

By Theodoros Batsoulis
Technical Analyst
Risk Market
www.riskmarket.co.uk