USDJPY Daily Analysis – May 2, 2017

USDJPY’s upward movement from 108.13 extended to as high as 111.97. As long as the pair is in the ascending price channel on 4-hour chart, the upward movement could be expected to continue, and next target would be at 113.00 area. Key support is now at 110.87, only a breakdown below this level could signal completion of the uptrend.

USDJPY chart