USDJPY Daily Analysis – December 7, 2018

USDJPY extended its downside movement from 114.03 to as low as 112.23. As long as the price is in the falling price channel on the 4-hour chart, the downside movement could be expected to continue and next target would be at 111.50 area. Key resistance is at 113.24, only a break of this level could signal completion of the downtrend.

USDJPY 4-hour chart