USDJPY continued its downward movement from 115.50 and the fall extended to as low as 112.26. Resistance is located at the top of the price channel on 4-hours chart. As long as the channel resistance holds, the downtrend could be expected to continue and further decline to test 111.59 support is possible. On the upside, a clear break above the channel resistance will indicate that the downtrend is complete, then another rise to test 115.60 resistance could be seen.

usdjpy 4-hours chart

Source: http://www.forexcycle.com/short-term-forex-analysis/109776-usdjpy-daily-analysis-march-21-2017.html

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