USDJPY Weekly Analysis – July 15, 2018

USDJPY extended its upside movement from 104.63 to as high as 112.80. As long as the price is above the rising trend line on the daily chart, the upside movement could be expected to continue and next target would be at 114.00 area. Support is now at 111.50, a breakdown below this level could bring the price back into 110.60 zone.

USDJPY daily chart