USDJPY Weekly Analysis – March 13, 2016

USDJPY continued its sideways movement in a range between 110.97 and 114.87. As long as 116.00 resistance holds, the price action in the trading range could be treated as consolidation of the downtrend from 123.75, further decline to 105.00 area is still possible after consolidation. Only break above 116.00 resistance could signal completion of the downtrend.

usdjpy chart