USDJPY Weekly Analysis – April 30, 2017

USDJPY stays in a descending price channel on daily chart and remains in downtrend from 118.66. Resistance is at the top of the channel, as long as the pair is in the channel, the downtrend could be expected to continue, and next target would be at 106.00 area. On the upside, a clear break above the channel resistance will indicate that the downward movement had completed at 108.13 already, then the following upward movement could bring price to 120.00 zone.

USDJPY chart