USDJPY Daily Analysis – August 6, 2018

USDJPY broke below the bottom support trend line of the rising price channel on the 4-hour chart, suggesting that the short term uptrend from 110.58 had completed at 112.15 already. Another fall would likely be seen in the coming days and next target would be at 110.58 support. Resistance is at 112.15, only a break of this level could trigger another rise towards 113.00.

USDJPY 4-hour chart