USDJPY Daily Analysis – October 11, 2017

USDJPY broke below 112.21 support. Further decline would likely be seen and next target would be at 111.47. Below this level would indicate that the upside movement from 107.31 had completed at 113.43 already, then the following correction pullback could bring price to 109.50 area. On the upside, as long as 111.47 support holds, the fall from 113.43 could be treated as consolidation of the uptrend, and another rise towards 115.50 is still possible after the consolidation.

USDJPY 4-hour chart