USDJPY Daily Analysis – March 27, 2018

USDJPY broke above 105.60 resistance, suggesting that the short term downtrend from 107.29 had completed at 104.63 already. Further rally is still possible in the coming days and the target would be at 106.00 area, followed by the falling trend line on the 4-hour chart. However, as long as the trend line resistance holds, one more fall towards 102.00 is still possible.

USDJPY 4-hour chart