USDJPY Daily Analysis – October 12, 2017

USDJPY is in consolidation of the uptrend from 107.31. Range trading between 111.47 and 113.43 would likely be seen in the coming days. As long as 111.47 support holds, the uptrend could be expected to resume, and another rise towards 115.50 is still possible after the consolidation. Resistance is at 113.43, above this level could signal resumption of the uptrend. Key support is at 111.47, only a breakdown below this level could indicate that the uptrend had completed at 113.43 already, then the following correction pullback could bring price back to 109.50 area.

USDJPY 4-hour chart