USDJPY Daily Analysis – January 20, 2015

USDJPY broke above the top of the price channel on 4-hour chart, indicating that the downtrend from 120.82 is complete. Further rise could be expected, and next target would be at 120.50 area. Support is at 116.85, only break below this level could bring price back to test 115.56 key support.

usdjpy chart