USDJPY Daily Analysis – March 9, 2018

USDJPY broke above the top trend line of the price channel on the 4-hour chart, suggesting that the short term downtrend from 107.90 had completed at 105.24 already. Further rally could be expected in a couple of days and next target would be at 107.50 area. Near term support is at 106.00, only break below this level could bring price back to test 105.24 support. Below this level would aim 104.00 area.

USDJPY 4-hour chart