USDJPY Daily Analysis – October 25, 2017

USDJPY remains in the uptrend from 111.65, the fall from 114.09 is likely consolidation of the uptrend. Near term support is at 113.24, followed by the bullish trend line on the 4-hour chart. As long as the trend line support holds, the upside movement could be expected to continue and next target would be at 115.50. On the downside, a clear break below the trend line support will indicate that the uptrend had completed at 114.09 already. This could trigger another fall towards 111.47 key support.

USDJPY 4-hour chart