USDJPY Daily Analysis – December 28, 2018

USDJPY moved sideways in a trading range between 110.26 and 111.45. The price action in the range is likely consolidation for the downtrend from 113.70, another fall towards 109.00 is possible after the consolidation. Key resistance is at 111.70, only a break of this level could signal completion of the downtrend.

USDJPY 4-hour chart