January 25, 2017
USDJPY remains in downtrend from 118.60, the price action from 112.56 is likely consolidation of the downtrend. Near term resistance is 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 110.00 area. Key resistance is at 115.62, only break above this level could signal completion of the downtrend.
