USDJPY Daily Analysis – February 17, 2014

USDJPY failed to break above the upper line of the price channel on 4-hour chart. Now the fall from 102.70 would possibly be resumption of the downtrend from 105.44. Deeper decline to test 100.75 support would likely be seen, a breakdown below this level will trigger another fall towards 95.00. Key resistance is now at 102.70, only break above this level could signal completion of the downtrend.

usdjpy chart