USDJPY Daily Analysis – January 14, 2015

USDJPY stays in the downward price channel on 4-hour chart, and remains in downtrend from 120.82. Deeper decline is still possible, and next target would be at 116.50 area. Resistance is at the upper line of the channel, only a clear break above the channel resistance could trigger another rise towards 125.00.

usdjpy chart