USDJPY Daily Analysis – February 27, 2015

No changed in our view, USDJPY is in downtrend from 120.47, the bounce from 118.23 is likely consolidation of the downtrend. Further decline could be expected after consolidation, and the target would be at 116.50 area. Support is at 118.23, a breakdown below this level could signal resumption of the downtrend.

usdjpy chart