USDJPY Weekly Analysis – October 7, 2018

USDJPY’s upside movement from 109.77 extended to as high as 114.54. Further rise is still possible after a minor consolidation and next target would be at 115.50 resistance. Near term support is at the bottom of the price channel on the daily chart, only a clear break below the channel support could indicate that consolidation for the uptrend from 104.63 is underway, then the pair would find support at around 111.50.

USDJPY daily chart