USDJPY Daily Analysis – March 6, 2018

USDJPY broke above 106.00 resistance, suggesting that lengthier consolidation for the downtrend from 113.75 (Dec 12, 2017 low) is needed. Further rally is still possible and next target would be at 107.50 area. The key resistance is at 107.90, as long as this level holds, the downtrend could be expected to resume, and another fall towards 103.00 is still possible after the consolidation.

USDJPY 4-hour chart