USDJPY Daily Analysis – August 31, 2018

USDJPY broke below the bullish trend line on the 4-hour chart, suggesting that the upside movement from 109.77 had completed at 111.82 already. Further decline is still possible after a minor consolidation and next target would be at 110.00 area. Near term resistance is at 111.30, only a break of this level could bring the price back towards 111.82 resistance.

USDJPY 4-hour chart