USDJPY Daily Analysis – April 7, 2017

USDJPY moved sideways in a trading range between 110.11 and 112.19. The sideways movement is likely consolidation of the downtrend from 115.50, further decline could be expected after the consolidation and next target would be at 108.00 area. Key resistance is at 112.19, only break above this level could signal completion of the downtrend.

USDJPY chart