USDJPY Daily Analysis – May 16, 2018

USDJPY broke above 110.03 resistance and extended its upside movement from 104.63 to as high as 110.45. Further rise could be expected in a couple of days and next target would be at 111.50 area. Key support is at 108.64, only a breakdown below this level could signal completion of the uptrend.

USDJPY 4-hour chart