USDJPY Daily Analysis – October 1, 2018

USDJPY’s upside movement from 110.38 extended to as high as 113.96. Further rise is still possible in a couple of days and next target would be at 115.00 area. Near term support is at 113.30, a breakdown below this level could bring the price back towards the bullish trend line on the 4-hour chart. Only a clear break below the trend line support could signal completion of the uptrend.

USDJPY 4-hour chart