USDJPY Daily Analysis – September 12, 2017

USDJPY broke above the resistance of the bearish trend line on its 4-hour chart, indicating that the short term downtrend from 110.67 had completed at 107.31 already. Further rally could be expected and the target would be at 110.00 area. However, the rise from 107.31 would possibly be correction of the downtrend from 114.49 (Jul 11 high), as long as 110.94 resistance holds, another fall towards 106.50 is still possible.

USDJPY 4-hour chart