USDJPY Daily Analysis – July 17, 2018

USDJPY moved sideways in a trading range between 112.19 and 112.80. As long as 112.19 support holds, the sideways move could be treated as consolidation for the uptrend from 109.36 and a breakout of 112.80 resistance could trigger further upside movement towards 113.50. On the downside, a breakdown below 112.19 support would indicate that the uptrend had completed at 112.80 already, then the pair would find next support level at around 111.00.

USDJPY 4-hour chart