USDJPY - Technical Analysis: Wednesday, 05/08/2015 05:24 GMT

The USDJPY consolidation above the bullish trend line pushed trading to surpass 124.00 barrier, to get good support for the continuation of the bullish trend on the longer term basis, and the way is open to head towards 130.00 areas in the upcoming period.

The exponential moving averages 50 and 100 offer positive support to the price, to reinforce the expected positive scenario, noting that there are chances of witnessing some sideways fluctuation and temporary bearish bias affected by the negativity that appears on stochastic.