USDJPY Daily Analysis – December 15, 2017

USDJPY broke below the bullish support trend line on its 4-hour chart, suggesting that the upside movement from 110.84 had completed at 113.75 already. Further decline would likely be seen in the coming days and next target would be at 111.50, followed by 110.84. Below these levels would aim 109.50 area. Near term resistance is at 113.00, only break above this level could bring price back towards 113.75 resistance. A breakout of this level could signal resumption of the uptrend from 110.84, then next target would be at 114.73.

USDJPY 4-hour chart