USDJPY Daily Analysis – February 18, 2014

USDJPY stays in a downward price channel on 4-hour chart, and remains in downtrend from 105.44, the rise from 100.75 could be treated as consolidation of the downtrend. As long as the channel resistance holds, the downtrend could be expected to resume, and another fall towards 95.00 is still possible. Key resistance is at 102.70, only break above this level could signal completion of the downtrend.

usdjpy chart