USDJPY Daily Analysis – August 24, 2018

USDJPY’s upside movement from 109.77 extended to as high as 110.46, breaking above the falling trend line on the 4-hour chart. Further rally would likely be seen in a couple of days and next target would be at 112.00 area. Near term support is at 110.70, only a breakdown below this level could bring the price back into 110.00 zone.

USDJPY 4-hour chart