USDJPY continued its downward movement from 123.75, and the fall extended to as low as 120.00. Further decline would likely be seen in a couple of weeks, and next target would be at 118.00 area. Resistance is at 123.75, only break above this level could trigger another rise towards 130.00.
![usdjpy chart](https://www.forexcycle.com/wp-content/uploads/2016/20160103_USDJPY_1.png)