USDJPY - Technical Analysis: Friday, 03/03/2017 12:08 GMT

The USDJPY pair tested 114.54 resistance line without managing to surpass it, to show bearish bias that might push the price to test the important support 113.50, as RSI shows negative signal that supports the continuation of the decline, but the next trend depends on surpassing one of the mentioned levels, to continue monitoring the price according to these levels.

Note that breaking 113.50 level will push the price to test 112.00 level mainly, which represents 38.2% Fibonacci correction level for the rise from 101.21 to 118.66, while surpassing 114.54 will lead the price to achieve gains on the short term basis to target the mentioned top at 118.66.