USDJPY Daily Analysis – November 2, 2017

USDJPY is facing 114.45 resistance. A breakout of this level will indicate that the uptrend from 107.31 (Sep 8 low) has resumed, then further rise towards 115.50 resistance could be seen. Near term support is at 113.70, a break below this level could bring price back to next support level at 112.95. Breakthrough this level will suggest that lengthier consolidation for the uptrend from 107.31 is underway, then next support level would be at around 112.30.

USDJPY 4-hour chart