USDJPY Daily Analysis – March 13, 2018

USDJPY remains in the uptrend from 105.24, the fall from 107.05 is likely consolidation for the uptrend. Support is at the bottom trend line of the price channel on the 4-hour chart. As long as the channel support holds, the upside movement could be expected to continue and next target would be at 107.90 resistance. On the downside, a clear break below the channel support would indicate that the upside movement had completed at 107.05 already, then further decline to test 105.24 support could be seen. Below this level would aim 104.00 area.

USDJPY 4-hour chart