USDJPY Daily Analysis – May 22, 2018

USDJPY remains in the uptrend from 108.64, the fall from 111.39 is likely consolidation for the uptrend. Support is located at the bottom trend line of the price channel on the 4-hour chart. As long as the channel support holds, the uptrend could be expected to continue and next target would be at 112.00 area. Only a clear break below the channel support could signal completion of the uptrend.

USDJPY 4-hour chart