USDJPY Weekly Analysis – April 8, 2017

USDJPY stays below a descending trend line on daily chart and remains in downtrend from 118.66. As long as the pair is below the trend line, the downtrend could be expected to continue, and next target would be at 108.00 area. On the upside, a clear break above the trend line resistance will indicate that the downtrend had completed at 110.11 already, then the following upward movement could bring price to 120.00 zone.

USDJPY chart