USDJPY Daily Analysis – December 11, 2017

USDJPY extended its upside movement from 110.84 to as high as 113.63. As long as the pair is above the rising trend line on the 4-hour chart, the upside movement could be expected to continue and further rise to test 113.91 resistance is possible. A breakout of this level would aim 114.73. Only a clear break below the trend line support would suggest that the uptrend is complete, then the following downside movement could bring price back towards 110.84, followed by 109.50 area.

USDJPY 4-hour chart