USDJPY Daily Analysis – August 16, 2017

USDJPY broke above the bearish trend line on the 4-hour chart and is now in uptrend from 108.73. Further rise could be expected after a correction pullback and next target would be at 112.00 area. Near term support is at 110.25, below this level will indicate that correction for the uptrend is underway, then the pair will find support at around 109.50.

USDJPY 4-hour chart