USDJPY Weekly Analysis – April 8, 2018

USDJPY is facing 107.90 resistance, a breakout of this level would suggest that the downside movement from 114.73 had completed at 104.63 already, then the following upside movement could take price to next resistance level at 110.00 area. On the downside, as long as 107.90 resistance holds, the price action in the trading range between 104.63 and 107.90 would possibly be consolidation for the downtrend from 114.73 and another fall towards 102.00 area is still possible after the consolidation.

USDJPY daily chart