USDJPY Daily Analysis – March 20, 2018

USDJPY moved sideways in a narrow range between 105.60 and 106.41. As long as 106.41 resistance holds, the sideways movement could be treated as consolidation for the short term downtrend from 107.29, and another fall to test 105.24 support is possible after the consolidation. On the upside, a breakout of 106.41 resistance would indicate that the downtrend had completed at 105.60 already, then another rise towards 108.00 could be seen.

USDJPY 4-hour chart