USDJPY Weekly Analysis – January 21, 2018

USDJPY broke below 110.84 support, suggesting that the downside movement from 114.73 has resumed. Further decline would likely be seen in a couple of weeks and next target would be at 109.50, followed by 107.31. Resistance is at 112.20, only break above this level will indicate that the downside movement is complete, then another rise to test 115.50 resistance could be seen.

USDJPY daily chart