USDJPY Weekly Analysis – January 14, 2018

USDJPY is facing 110.84 support. A breakdown below this level could take price to next support level at 109.50. Below here would aim 107.31. On the upside, as long as 110.84 support holds, the price action in the trend range between 110.84 and 114.73 could be treated as consolidation of the uptrend from 107.31 and another rise towards 115.50 resistance is still possible after the consolidation.

USDJPY daily chart