USDJPY Daily Analysis – November 17, 2017

USDJPY stays below a bearish trend line on the 4-hour chart and remains in the downtrend from 114.73. As long as the price is below the trend line, the rise from 112.47 could be treated as consolidation of the downtrend, and a breakdown below 112.47 support could trigger further downside movement towards 111.65. On the upside, a clear break above the trend line resistance could bring price back towards next resistance level at 113.91. Above this level would aim 114.73.

USDJPY 4-hour chart