USDJPY Daily Analysis – August 4, 2017

USDJPY’s bearish movement from 114.49 extended to as low as 110.98. Resistance is at 110.98, as long as this level holds, the downside movement could be expected to continue and next target would be at 109.00 area. On the upside, a break of 110.98 resistance will indicate that the downtrend is complete, then the following upside movement could bring price to 113.50 area.

USDJPY 4-hour chart