USDJPY Weekly Analysis – December 3, 2017

USDJPY is now in downtrend from 114.73, the bounce from 110.84 is treated as consolidation of the downtrend. Further decline would likely be seen next week and a breakdown below 110.84 support could trigger further downside movement to 109.50 area. Below this level would aim 107.31 support. Near term resistance is at 112.90, only break above this level could trigger another rise to test 115.50 key resistance.

USDJPY daily chart