USDJPY Daily Analysis – January 20, 2017

USDJPY broke above the downward trend line on 4-hour chart, indicating that the downtrend from 118.60 had completed at 112.56 already. Further rise could be expected and next target would be at 117.50 area. Near term support is at 113.70, only break below this level could trigger another fall towards 110.00.

usdjpy chart