USDJPY Daily Analysis – October 26, 2017

USDJPY extended its upside movement from 111.65 to as high as 114.24. As long as the price is above the rising trend line on the 4-hour chart, the upside movement could be expected to continue and next target would be at 115.50. Key support is now at 113.24, only a breakdown below this level will indicate that the uptrend had completed at 114.24 already, then the following downside movement could bring price back to 112.00 area.

USDJPY 4-hour chart