USDJPY Weekly Analysis – March 20, 2016

After consolidation, USDJPY broke below 110.97 support, indicating that the downtrend from 123.75 has resumed. Further decline could be expected over the next several weeks, and next target would be at 105.00 area. Resistance is at 114.87, only break above this level could signal completion of the downtrend.

usdjpy chart