USDJPY Daily Analysis – March 16, 2018

USDJPY’s downside movement from 107.29 extended to as low as 105.78. Further decline towards 105.24 support would likely be seen in the coming days. A breakdown below this level could take price to 104.00 area. Near term resistance is at 106.45, only break above this level could bring price back towards 107.29 resistance.

USDJPY 4-hour chart