USDJPY Daily Analysis – August 15, 2017

USDJPY moved above the bearish trend line on its 4-hour chart, suggesting that the downside movement from 114.49 had completed at 108.73 already. Further rally would likely be seen after a correction pullback and next target would be at 111.00 area. Support levels are at 109.40 and 108.73, only break below these levels could trigger another fall to test 108.13 (Apr 17 low) support.

USDJPY 4-hour chart