USDJPY Daily Analysis – May 11, 2017

USDJPY’s bullish movement from 108.13 extended to as high as 114.36. Support is now located at the ascending trend line on 4-hour chart. As long as the pair is above the trend line, the uptrend could be expected to continue, and next target would be at 115.00 area. On the downside, a breakdown below the trend line support will suggesting that correction for the uptrend is underway, then the following pullback could bring price back to 111.00 area.

USDJPY chart