USDJPY Daily Analysis – July 27, 2017

USDJPY failed to break above 112.41 resistance and pulled back to 110.80 area, facing the 110.62 support. As long as 110.62 support holds, the fall could be treated as correction of the uptrend from 110.62 and another rise to test 112.41 resistance is possible. On the downside, a breakdown below 110.62 support will signal resumption of the downtrend from 114.49, then deeper decline to 109.50 area could be seen.

USDJPY 4-hour chart