USDJPY Daily Analysis – January 18, 2017

USDJPY’s downward movement from 118.60 extended to as low as 112.56. Resistance is located at the downward trend line on 4-hour chart. As long as the trend line resistance holds, the downtrend could be expected to continue, and next target would be at 111.00 area. Only a clear break above the trend line resistance could signal completion of the downtrend.

usdjpy chart