USDJPY Daily Analysis – April 18, 2018

USDJPY moved sideways in a trading range between 106.61 and 107.78. 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 107.90 resistance could take price to 109.50 area. On the downside, a breakdown below 106.61 support would indicate that the upside movement had completed at 107.78 already, then the pair would find next support level at 105.65.

USDJPY 4-hour chart