USDJPY Daily Analysis – February 1, 2017

USDJPY broke below 112.52 support, indicating that the downtrend from 118.66 (Dec 15, 2016 high) has resumed. Further decline could be expected over the next several days, and next target would be at 110.00 area. Near term resistance is at 113.50, only break above this level will indicate that lengthier consolidation for the downtrend is needed, then another rise to test 115.62 resistance could be seen.

usdjpy chart