USDJPY Daily Analysis – October 24, 2017

USDJPY stays above a rising trend line on the 4-hour chart and remains in the uptrend from 111.65. As long as the price is above the trend line, the fall from 114.09 could be treated as consolidation of the uptrend and further rise towards 114.50 is still possible after the consolidation. The rising trend line is now at around 112.85, a clear break below will indicate that the uptrend had completed at 114.09 already, this could trigger further downside movement towards 111.47 key support.

USDJPY 4-hour chart