USDJPY Daily Analysis – December 10, 2018

USDJPY stays in a falling price channel on the 4-hour chart and remains in the downtrend from 114.03. As long as the channel resistance holds, the downside movement could be expected to continue and next target would be at 111.50 area. Key resistance is at 112.92, a break of this level would indicate that the downside movement is complete, then further rally to 114.00 area could be seen.

USDJPY 4-hour chart