USDJPY Daily Analysis – February 16, 2015

USDJPY is now in downtrend from 120.47. Deeper decline would likely be seen, and the target would be at 116.50 area. Resistance is at 120.47, only break above this level will indicate that the long term uptrend from 101.06 (Jul 10, 2014 low) has resumed, then the following upward movement could bring price to 125.00 area.

usdjpy chart