USDJPY Technical Analysis for March 31, 2016

From our last analysis, we expected USDJPY to continue higher. But instead, price went down. We see this decline as a temporary retracement which should not go lower than 110.65. Otherwise, the said upward move is still part of the two months correction. We want to see this pair break above 114.45 to be able to confirm that a bottom has already been placed.

Happy trading everyone!