USDJPY Daily Analysis – August 27, 2018

USDJPY broke above the falling trend line on the 4-hour chart, suggesting that the downside movement from 112.15 had completed at 109.77 already. Further rally is still possible in a couple of days and next target would be at 112.50 area. Support is at 110.80, only a breakdown below this level could bring the price back towards 109.77.

USDJPY 4-hour chart