USDJPY Weekly Analysis – November 17, 2018

USDJPY failed to break above 114.54 resistance and pulled back to 112.60 area, suggesting that lengthier consolidation for the uptrend from 104.63 is needed. However, as long as the price is in the price channel on the daily chart, the uptrend could be expected to resume and further rise towards 115.50 resistance is still possible. Only a breakdown below the channel support could signal completion of the uptrend.

USDJPY daily chart