USDJPY - Technical Analysis: Monday, 20/03/2017 07:19 GMT

The USDJPY pair continues to decline to approach from our first target at 112.00, which represents 38.2% Fibonacci for the rise from 101.21 to 118.66, thus, breaking this level will push the price to extend its bearish correction towards 109.94.

The negative pressure provided by the exponential moving average 100 supports the chances of extending the bearish wave, while surpassing 113.60 barrier will stop the current decline and push the price to test the important resistance at 114.54 again before detecting the next trend.