USDJPY Daily Analysis – March 4, 2015

USDJPY failed to break above 120.47 resistance, indicating that the pair remains in downtrend from 120.47, and the rise from 118.23 could be treated as correction of the downtrend. Another fall to 116.50 area to complete the downward movement would likely be seen. Resistance is at 120.47, only break above this level will indicate that the uptrend from 101.06 (Jul 10, 2014 low) has resumed, then the following upward movement could bring price to 125.00 area.

usdjpy chart