USDJPY Daily Analysis – May 31, 2017

USDJPY broke below 110.86 support, indicating that the short term downtrend from 112.13 has resumed. Deeper decline to test 110.23 support is possible, a breakdown below this level will take price to the next support level of 109.60. Near term resistance is at 111.50, only a break of this level could trigger another rise towards 115.00.

USDJPY 4-hour chart