USD/JPY - USD/JPY Printed a Fresh 5-Week Low - 01/13/2017 (GMT)

The U.S. dollar extended its losses yesterday against the Japanese yen as investors continued to drove the pair lower. The USD/JPY pair slipped below the critical barrier at 115.00 and hit the 113.70 price level while it printed the fourth red consecutive day. Also, the price fell below the 50-daily SMA, however, it failed to end the day beneath it.

The RSI is following a downward path, below 50, while the MACD is approaching the negative territory, both of which are also bearish. Immediate support is seen at 113.70 following the rejection around 115.00. Otherwise, a rise above the latter level will expose the price towards the 117.50 resistance barrier.