USDJPY Daily Analysis – May 17, 2017

USDJPY broke below the bottom of the price channel on 4-hour chart, indicating that the upward movement from 108.13 had completed at 114.36 already. Further decline could be expected over the next several days and next target would be at 112.00 area. Resistance is at 113.50, as long as this level holds, the downtrend will continue.

USDJPY chart