USDJPY Daily Analysis – January 15, 2015

USDJPY’s downward movement from 120.82 extended to as low as 116.07. Deeper decline to test 115.56 support is possible after a minor consolidation. Resistance is located at the downward trend line on 4-hour chart, only a clear break above the trend line resistance will indicate that the downtrend is complete, then another rise towards 125.00 could be seen.

usdjpy chart