USDJPY Weekly Analysis – June 17, 2017

USDJPY failed to break below 108.13 support and rebounded from 108.81, indicating that the correction pullback from 114.36 is complete. Further rally to test 112.12 resistance could be expected, a break through this level could trigger another rise to test 115.50 resistance. Support is at 108.81, only break below this level could bring price back to the downtrend from 114.36.

USDJPY daily chart