USDJPY Daily Analysis – October 2, 2017

USDJPY remains in the uptrend from 107.31, the fall from 113.25 is likely consolidation of the uptrend. Near term support is at the bottom trend line of the price channel on the 4-hour chart. As long as the channel support holds, the uptrend could be expected to continue and next target would be at 114.00 area. Key support is at 111.47, only a breakdown below this level could indicate that the uptrend had completed at 113.25 already, then the following correction pullback could bring price back towards 109.54.

USDJPY 4-hour chart