USDJPY Daily Analysis – April 28, 2017

USDJPY remains in uptrend from 108.13, the fall from 111.77 is likely consolidation of the uptrend. Near term support is at the bottom of the price channel on 4-hour chart. As long as the pair is in the channel, the uptrend could be expected to continue, and next target would be at 113.00 area. Only a clear break below the channel support will indicate that the uptrend had completed at 111.77 already, then the following pullback could bring price to 109.00 area.

USDJPY chart