USDJPY broke above 113.95 resistance

February 13, 2017

USDJPY broke above 113.95 resistance, indicating that the downward movement from 115.62 had completed at 111.59 already. Further rise to test 115.62 resistance could be expected in a couple of days, and a break of this level will confirm that the longer term downtrend from 118.66 (Dec 15, 2016 high) is complete, then the following upward movement could bring price to 118.00 zone.

By ForexCycle.com