USDJPY : Daily Chart USDJPY is now seems like following a descending triangle trend on the daily chart as it seems to be supported near 116.11 and resisted by a falling resistance trend line. It was able to decline below the 50 day SMA which was earlier acting as a key support for the pair signaling a bearish trend. However the other moving average which are 100 day and 200 day SMAs continues to head upwards signaling an uptrend continuation. So we can conclude that there might be see some losses in the pair but we can not confirm that the pair will continue to follow downtrend as losses seems limited. USDJPY : 4 hour Chart On the 4 hour chart, the pair seems like following a falling channel trend and currently testing the resistance trend line of the channel. The 100 day SMA also just crossed below the 200 day SMA signaling a downtrend continuation. Therefore this time also the pair will decline from the resistance trend line of the channel and will continue to follow downtrend atleast in short term.