USDJPY Daily Analysis – February 6, 2018

USDJPY dropped sharply from 110.48 to as low as 108.54, facing 108.28 support. A breakdown below this level will indicate that the downtrend from 113.38 has resumed, then next target would be at 107.31 support. Near term resistance is at 109.30, only break above this level could trigger another rise towards 111.48.

USDJPY 4-hour chart