USDJPY has recently broken below the support of a rising price channel on the 4-hour chart, suggesting that the upside move from 137.23 has already completed at 141.94. The fall from 141.94 has now reached as low as 139.37, and further decline could be expected, with the next target being the previous low of 137.23.
On the other hand, there is now immediate resistance at 140.20. Only if the price were to break above this level could another rise towards 141.94 be triggered.
