USDJPY Daily Analysis – January 13, 2015

USDJPY’s downward movement from 120.82 extended to as low as 117.74. Further decline could be expected, and next target would be at 116.50 area. Resistance is located at the top of the price channel on 4-hour chart, only a clear break above the channel resistance could trigger another rise towards 125.00.

usdjpy chart