USDJPY Daily Analysis – November 1, 2017

USDJPY’s fall from 114.45 had completed at 112.95 already. The subsequent bounce would possibly be resumption of the uptrend from 111.65. Further rise to test 114.45 resistance could be expected, a breakout of this level could trigger further upside movement towards 115.50 key resistance. On the downside, a breakdown below 112.95 support will indicate that lengthier consolidation for the uptrend from 107.31 (Sep 8 low) is needed, then the pair would find next support at around 112.30.

USDJPY 4-hour chart