USDJPY Daily Analysis – August 29, 2017

After consolidation, USDJPY continued its downside movement from 114.49 and the fall extended to as low as 108.33. Further decline to test 108.13 (Apr 17 low) key support is still possible, a breakdown below this level could take price to 106.50 – 105.00 area. Resistance is at 109.84, only break above this level could trigger another rise towards 115.50.

USDJPY 4-hour chart