USDJPY Daily Analysis – January 11, 2017

USDJPY is testing 114.73 support, as long as this level holds, the fall from 118.66 could be treated as consolidation of the uptrend from 101.18 (Nov 9, 2016 low), and another rise towards 120.00 could be expected after consolidation. On the upside, a breakdown below 114.73 support will indicate that the uptrend had completed at 118.66 already, then further decline to 112.50 area could be seen.

usdjpy chart