USDJPY Daily Analysis – March 29, 2018

USDJPY broke above the falling trend line on its 4-hour chart, suggesting that the short term downtrend from 107.29 had completed at 104.63 already. Further rally would likely be seen and next target would be at 107.29 resistance. A breakout of this level could take price to next resistance level at 107.90. Support level is at 105.75, only a breakdown below this level could bring price back towards 104.63.

USDJPY 4-hour chart