USDJPY Daily Analysis – December 19, 2017

USDJPY remains in the downtrend from 113.75, the bounce from 112.03 could be treated as consolidation of the downtrend. Resistance is at 113.00, as long as this level holds, the downtrend could be expected to continue and a breakdown below 112.03 support could take price to next support level at 110.84. On the upside, a break of 113.00 resistance would take price back towards 113.75 resistance. Above this level could trigger further upside movement towards 114.73.

USDJPY 4-hour chart