USDJPY Daily Analysis – August 1, 2018

USDJPY broke above 111.54 resistance, suggesting that the downside movement from 113.17 had completed at 110.58 already. Further rally is still possible and next target would be at 112.40 area. Support is at 111.25, only break below this level could bring the price back to test 110.58 support.

USDJPY 4-hour chart