USDJPY Weekly Analysis – February 23, 2020

USDJPY broke above the rising price channel on the daily chart and extended its upside movement from 104.44 to as high as 112.22. Further rise would likely be seen after a minor consolidation and next target would be at 113.50 area. Near term support is at 110.80, only break below this level could signal completion of the uptrend.

USDJPY daily chart