USDJPY Daily Analysis – March 15, 2018

USDJPY broke below the bottom support trend line of the price channel on the 4-hour chart, indicating that the short term uptrend from 105.24 had completed at 107.29 already. Further decline to test 105.24 support would likely be seen in the coming days. A breakdown below this level would aim 104.00 area. Near term resistance is at 106.50, as long as this level holds, the downside movement from 107.29 will continue.

USDJPY 4-hour chart