USDJPY Daily Analysis – March 7, 2017

USDJPY is forming a sideways consolidation in a range between 111.59 and 114.95. Another fall to test 111.59 support would likely be seen in a couple of days. Resistance is at 114.95, only break above this level will indicate that the pair is in uptrend from 111.68, then further rise to 117.50 area is possible.

USDJPY chart