USDJPY Daily Analysis – May 17, 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 continue and next target would be at 111.50 area. On the downside, a breakdown below the channel support could bring the price back to test 108.64 key support, below this level could signal completion of the uptrend.

USDJPY 4-hour chart