USDJPY Daily Analysis – July 13, 2017

USDJPY broke below the bottom support trend line of the price channel on its 4-hour chart and is now facing 112.74 key support. A breakdown below this level will confirm that the uptrend from 108.81 had completed at 114.49 already, then the following correction pullback could bring price back into 111.50 zone. On the upside, as long as 112.74 support holds, the uptrend could be expected to resumed, and another rise to test 115.50 key resistance is still possible.

USDJPY 4-hour chart