USDJPY Daily Analysis – April 2, 2015

USDJPY remains in downtrend from 122.02, the rise from 118.33 is likely consolidation of the downtrend. Resistance is at 120.36, as long as this level holds, the downtrend could be expected to resume, and further decline to 116.50 area is still possible. Only break above 120.36 resistance could signal completion of the downtrend.

usdjpy chart