USDJPY Daily Analysis – May 15, 2018

USDJPY stays in a rising price channel on its 4-hour chart and remains in the uptrend from 104.63. As long as the channel support holds, the upside movement could be expected to resume and a breakout of 110.03 resistance could take the price to 111.50 area. The key support is at 108.64, only a breakdown below this level could signal completion of the uptrend.

USDJPY 4-hour chart