USDJPY Weekly Analysis – March 18, 2018

USDJPY moved sideways in a trading range between 105.24 and 107.90. As long as 107.90 resistance holds, the sideways movement could be treated as consolidation for the downtrend from 113.75 and a breakdown below 105.24 support could trigger another fall towards 102.00. On the upside, a breakout of 107.90 resistance would indicate that the downtrend had completed at 105.24 already, then further rally to 109.00 area could be seen.

USDJPY daily chart