USDJPY Daily Analysis – April 3, 2015

USDJPY is in downtrend from 122.02, the rise from 118.33 could be treated as consolidation of the downtrend. Resistance is at 120.36, as long as this level holds, the downtrend could be expected to continue, and next target would be at 116.50 area. Only break above 120.36 resistance could signal completion of the downtrend.

usdjpy chart