USDJPY Daily Analysis – February 13, 2018

2018-02-13

USDJPY stays below a falling trend line on the 4-hour chart and remains in the downtrend from 110.48. As long as the trend line resistance holds, the downtrend could be expected to continue and next target would be at 107.31 (Sep 8, 2017 low). On the upside, a breakout of the trend line resistance would suggest that lengthier consolidation for the downtrend from 113.75 (Dec 12, 2017 low) is needed, then further rise to 110.00 area could be seen.