USDJPY Daily Analysis – December 14, 2017

USDJPY failed to break above 113.91 resistance and dropped down from 113.75, facing the bullish trend line on its 4-hour chart. A clear break below the trend line support will confirm that the short term uptrend from 110.84 is complete, then further decline towards 110.84 support could be seen. On the upside, as long as the trend line support holds, the fall from 113.75 would possibly be consolidation of the uptrend, and another rise to test 113.91 is still possible.

USDJPY 4-hour chart