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

The USDJPY pair found strong resistance at 112.00 that forced it to decline strongly and stop the effect of the inverted head and shoulders' pattern mentioned in our last report, and the price broke the intraday ascending channel's support, which puts the price under the negative pressure again, to head towards visiting 109.94 level mainly.

Thus, the decline will be dominating in the coming period, noting that rallying to surpass 112.00 barrier will stop the expected bearish trend and lead the price to achieve gains on the short term and medium term basis.