USDJPY Weekly Analysis – February 5, 2017

USDJPY’s downward movement from 118.66 extended to as low as 112.05. Further decline is still possible in a couple of weeks and next target would be at 110.00 area. Near term resistance is at the downward trend line on daily chart, and the key resistance is at 115.65, only break above this level could trigger another rise towards 120.00.

usdjpy chart