USDJPY Daily Analysis – January 5, 2017

USDJPY failed to break above 118.66 resistance. Another fall to test 114.73 support would likely be seen over the next several days. Key support is at 114.73, as long as this level holds, the uptrend from 101.18 (Nov 09, 2016 low) could be expected to resume, and further rise to 120.00 area is still possible. Only break below 114.73 support could signal completion of the uptrend.

usdjpy chart