USD/JPY Analysis

Weekly:

Screen Shot 2018-01-16 at 19.17.28

The weekly trend line has been rejected for the third time after ranging between 114.426 and 110.435, continuing its bearish momentum.

Daily:

Screen Shot 2018-01-16 at 19.18.00

Price has broken the daily countertrend line reaching and breaking the daily support at 110.803 indicating further downside.

4 Hour:

Screen Shot 2018-01-16 at 19.18.50

The 4HR trend line has been respected multiple times acting as resistance. The 4HR also shows a clearer view of the daily support being broken and retested providing a good entry point with targets at the next weekly support at 109.000.

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