USDJPY Daily Analysis – April 11, 2018

USDJPY remains in the uptrend from 104.63, the sideways movement in a trading range between 106.61 and 107.49 is likely consolidation for the uptrend. As long as 106.61 support holds, the uptrend could be expected to resume and a breakout of 107.49 resistance could take price to next resistance level at 107.90. On the downside, a breakdown below 106.61 support would suggest that the upside movement had completed at 107.49 already, then deeper decline to 106.00 area could be seen. Below here would aim 105.65 support.

USDJPY 4-hour chart