USDJPY Daily Analysis – March 27, 2017

USDJPY continued its downward movement from 115.50 and the fall extended to as low as 110.25. Further decline is still possible after a minor consolidation and next target would be at 109.00 area. Near term resistance is at the top of the price channel on 4-hour chart. As long as the channel resistance holds, the downtrend will continue. Key resistance is now at 111.57, only break above this level could signal completion of the downtrend.

USDJPY chart