USDJPY Daily Analysis – December 8, 2017

USDJPY broke above 113.08 resistance, indicating that the uptrend from 110.84 has resumed. Further rise could be expected and next target would be at 113.91. Above this level would aim 114.73. Near term support is located at the bullish trend line on the 4-hour chart now at around 112.05, only a clear break below the trend line will suggest that the uptrend is complete, then deeper decline towards 110.84 could be seen. Below this level would aim 109.50 area.

USDJPY 4-hour chart