USDJPY Daily Analysis – August 17, 2017

USDJPY is in uptrend from 108.73, the fall from 110.94 could be treated as correction of the uptrend. Near term support is at 109.50, as long as this level holds, the uptrend could be expected to resume, and further rise to 112.00 area is still possible. Key support is at 108.73, only a breakdown below this level could signal resumption of the downtrend from 114.49.

USDJPY 4-hour chart