USDJPY Daily Analysis – July 20, 2017

USDJPY is facing the resistance of the descending trend line on the 4-hour chart. As long as the trend line resistance holds, the downtrend from 114.49 could be expected to continue and next target would be at 111.00 area. On the upside, a clear break above the trend line support could take price towards the key resistance at 112.86, only a break above this level could signal completion of the downtrend.

USDJPY 4-hour chart