USDJPY Daily Analysis – May 2, 2018

USDJPY broke above 109.53 resistance and extended its upside movement from 104.63 to as high as 109.91. Key support is now at 108.95. As long as this level holds, the upside movement could be expected to continue and next target would be at 111.00 area. Only a breakdown below 108.95 support could signal completion of the uptrend.

USDJPY 4-hour chart