USDJPY Weekly Analysis – February 16, 2014

USDJPY stays in a downward price channel on daily chart, and remains in downtrend from 105.44. As long as the channel resistance holds, the downtrend could be expected to continue, and next target would be at 98.00 area. On the upside a clear break above the channel resistance will indicate that the downward movement from 105.44 had completed at 100.75 already, then further rise to test 105.44 resistance could be seen.

usdjpy chart