USDJPY Daily Analysis – February 2, 2018

USDJPY is facing 109.77 resistance. A breakout of this level will suggest that the downside movement from 113.38 had completed at 108.28 already, then further rally towards 111.48 resistance could be seen. Near term support is at 109.20, a breakdown below this level could take price to test 108.28 support. Below this level could trigger another fall towards 107.31 support.

USDJPY 4-hour chart