USDJPY Daily Analysis – June 28, 2018

USDJPY stays below a falling price channel on the 4-hour chart and remains in the downtrend from 110.90. As long as the channel resistance holds, the downside movement could be expected to resume and another fall towards 108.50 is still possible after the consolidation. On the upside, a clear break of the channel resistance would indicate that the upside movement from 108.11 has resumed, then next target would be at 111.00 area.

USDJPY 4-hour chart