USDJPY Weekly Analysis – July 8, 2018

USDJPY is testing 111.39 resistance. A break of this level would suggest that the upside movement from 104.63 has resumed, then further rise to 113.00 area could be seen. Key support is at 108.11, a breakdown below this level would indicate that the uptrend had completed at 111.39 already, then the following downside movement could bring the price back towards 104.00.

USDJPY daily chart