USDJPY Weekly Analysis – January 15, 2017

USDJPY broke below 114.73 support, indicating that the upward movement from 101.18 had completed at 118.66 already. Deeper decline could be expected over the next several weeks, and the target would be at 110.00 area. Resistance is at 116.60, only break above this level could trigger another rise towards 123.00.

usdjpy chart