USDJPY Daily Analysis – November 3, 2016

USDJPY broke below 103.16 support, indicating that the upward movement from 100.08 (Sep 27 low) had completed at 105.53 already. Deeper decline could be expected after a minor consolidation, and next target would be at 101.00 area. Resistance is at 104.25, as long as this level holds, the downtrend will continue.

usdjpy chart