USDJPY Daily Analysis – July 19, 2017

USDJPY continued its bearish movement from 114.49 and extended its fall to 111.68. Further decline is still possible after a minor consolidation and next target would be at 111.00 area. Near term resistance is at the descending trend line on the 4-hour chart and the key resistance is at 112.86, only a break of this level could signal completion of the downtrend.

USDJPY 4-hour chart