USDJPY Daily Analysis – January 6, 2017

USDJPY is facing 114.73 support, a breakdown below this level will signal completion of the uptrend from 101.18 (Nov 09, 2016 low), then the following downward movement could bring price back to 112.50 area. On the upside, as long as 114.73 support holds, the fall from 118.66 could be treated as consolidation of the uptrend, and another rise towards 120.00 could be expected after consolidation.

usdjpy chart