USDJPY Daily Analysis – September 27, 2018

Being contained by 113.17 (Jul 19 high) resistance, USDJPY pulled back sharply from 113.13, breaking below the rising trend line on the 4-hour chart. Deeper decline to test 112.39 support is possible in the coming days. However as long as 112.39 support holds, the pullback could be treated as consolidation for the uptrend and further rise towards 113.50 is still possible. Only a breakdown below 112.39 support could signal completion of the uptrend.

USDJPY 4-hour chart