USDJPY Weekly Analysis – August 26, 2018

USDJPY stays in a falling price channel on the daily chart and remains in the downtrend from 113.17. As long as the channel resistance holds, the bounce from 109.77 could be treated as consolidation for the downtrend and another fall towards 108.00 is still possible after the consolidation. Only a clear break above the channel resistance could trigger another rise towards 115.50 resistance.

USDJPY daily chart