USDJPY Daily Analysis – October 11, 2018

USDJPY extended its downside movement from 114.54 to as low as 112.05. Further decline is still possible after a minor consolidation and next target would be at 111.50 area. Near term resistance is at 112.40, a break of this level could bring the price back towards the falling trend line on the 4-hour chart.

USDJPY 4-hour chart