USDJPY Weekly Analysis – August 12, 2018

USDJPY broke below the rising trend line on the daily chart, suggesting that the upside movement from 104.63 to as high as 113.17. Deeper decline would likely be seen in a couple of weeks and next target would be at 109.50 area. Resistance levels are at 112.20 and 113.17, only break above these levels could trigger another rise towards 115.50 resistance.

USDJPY daily chart