USDJPY Daily Analysis – March 21, 2018

USDJPY broke above 106.41 resistance, suggesting that the downside movement from 107.29 had completed at 105.60 already. Further rise could be seen and next target would be at 107.29 resistance. Above this level could take price to 107.90 key resistance. On the downside, as long as 107.90 level holds, the price action from 105.54 could be treated as consolidation for the downtrend from 113.75 (Dec 12, 2017 high) and another fall towards 102.00 is still possible after the consolidation.

USDJPY 4-hour chart