USDJPY Daily Analysis – October 16, 2018

USDJPY extended its downside movement from 114.54 to as low as 111.62. As long as the price is below the bearish trend line on the 4-hour chart, the downside movement could be expected to continue and next target would be at 111.20 area. Only a clear break above the trend line resistance could signal completion of the downtrend.

USDJPY 4-hour chart