USDJPY Daily Analysis – March 7, 2018

USDJPY stays in a falling price channel on its 4-hour chart and remains in the short term downtrend from 107.90. As long as the channel resistance holds, the downside movement could be expected to continue and next target would be at 103.00 area. Key resistance is at 106.46, only a breakout of this level would suggest that the short term downtrend had completed at 105.24 already, then the following upside movement could bring price to 107.50 area.

USDJPY 4-hour chart