USDJPY Daily Analysis – January 18, 2018

USDJPY broke above the falling trend line on the 4-hour chart, suggesting that the short term downtrend from 113.38 had completed at 110.19 already. Further rise would likely be seen and next target would be at 111.87 resistance. Support levels are at 110.80 and 110.19, only break below these levels could trigger another fall towards 109.50.

USDJPY 4-hour chart