USDJPY Daily Analysis – November 21, 2017

USDJPY failed in its attempt to break below 111.65 support and rebounded from 111.88. However, as long as the price is below the bearish trend line on the 4-hour chart, another fall to test 111.65 support is still possible. A breakdown below this level could take price to 111.00, followed by 109.50. On the upside, a clear break above the trend line resistance will indicate that the downside movement from 114.73 had completed at 111.88 already, then next target would be at 113.90.

USDJPY 4-hour chart