USDJPY Daily Analysis – April 12, 2018

USDJPY moved sideways in a trading range between 106.61 and 107.49. As long as 106.61 support holds, the price action in the range could be treated as consolidation for the uptrend from 104.63, and a breakout of 107.49 resistance could take price to next resistance level at 107.90. On the downside, a breakdown below 106.61 support would suggest that the upside movement had completed at 107.49 already, then next target would be at 106.00, followed by 105.65.

USDJPY 4-hour chart