USDJPY remains in uptrend from 111.68, the fall from 115.50 is likely consolidation of the uptrend. Near term support is at the bottom of the price channel on 4-hours chart. As long as the price channel support holds, the uptrend could be expected to continue, and next target would be at 117.50 area. Key support is at 113.55, only break below this level will confirm that the uptrend had completed at 115.50 already, then another fall to test 111.59 support could be seen.

USDJPY 4-hours Chart


Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.