USDJPY Daily Analysis – December 27, 2018

USDJPY remains in the downtrend from 113.70, the bounce from 110.26 is likely consolidation for the downtrend. Range trading between 110.26 and 111.70 would likely be seen in a couple of days. As long as 111.70 resistance holds, the downtrend could be expected to resume and a breakdown below 110.26 support could trigger further downside movement towards 109.00. Only break above 110.70 resistance could signal completion of the downtrend.

USDJPY 4-hour chart