USDJPY Daily Analysis – January 12, 2017

USDJPY broke below 114.73 support, indicating that the uptrend from 101.18 (Nov 9, 2016 low) had completed at 118.66 already. Further decline could be expected over the next several days, and next target would be at 112.50 area. Resistance is at the downward trend line on 4-hour chart, only a clear break above the trend line resistance could bring price back to test 118.66 resistance.

usdjpy chart