USDJPY Daily Analysis – May 29, 2017

No changed in our view, USDJPY remains in uptrend from 110.23, the fall from 112.13 is likely correction of the uptrend. Another rise would be expected after the correction and the next target would be at around 113.50. Near term resistance is at 111.70, a break of this level could signal the resumption of the uptrend. Support levels are at 110.80 and 110.23, only break below these levels could take price back to the downtrend from 114.36.

USDJPY 4-hour chart