USDJPY Daily Analysis – October 8, 2018

USDJPY stays above a bullish trend line on the 4-hour chart and remains in the uptrend from 110.38. As long as the trend line support holds, the fall from 114.54 could be treated as consolidation for the uptrend. Another rise could be expected after the consolidation and next target would be at 115.50 resistance. On the downside, a breakdown below the trend line support could bring the price back towards next support level at 112.56.

USDJPY 4-hour chart