USDJPY Daily Analysis – May 7, 2018

USDJPY is in consolidation for the uptrend from 104.63. Range trading between 108.00 and 110.03 would likely be seen over the next several days. As long as 108.00 support holds, the uptrend could be expected to resume and another rise towards 112.00 is still possible after the consolidation. Only a breakdown below 108.00 support could signal completion of the uptrend.

USDJPY 4-hour chart