USDJPY Weekly Analysis – February 12, 2017

USDJPY’s fall from 118.66 extended to as low as 111.58. Near term resistance is now located at the top of the price channel on daily chart. As long as the pair stays in the channel, the downtrend could be expected to continue, and next target would be at 110.00 area. Key resistance is at 115.65, only break above this level could trigger another rise towards 120.00.

usdjpy chart