USDJPY Weekly Analysis – August 5, 2018

USDJPY stays above a rising trend line on the daily chart and remains in the uptrend from 104.63. As long as the trend line support holds, the upside movement could be expected to continue and next target would be at 115.50 resistance. Key support is at 110.58, a breakdown below this level would indicate that the upside movement had completed at 113.17 already, then further decline towards 109.00 could be seen, below this level would aim 105.00 area.

USDJPY daily chart