USDJPY - Technical Analysis: Wednesday, 29/03/2017 08:40 GMT

The USDJPY pair surpassed the intraday descending channel's resistance and achieve some gains now, while it might head to test the most important resistance on the short term basis at 112.00 before turning back to continue the correctional bearish trend.

RSI moves near the overbought areas to support the expected decline, which its first target located at 109.94, noting that surpassing 112.00 will lead the price to achieve more gains on the intraday and short term basis to head towards 114.54 mainly.