USDJPY Daily Analysis – October 23, 2018

USDJPY extended its upside movement from 111.62 to as high as 112.88. Further rise is still possible and next target would be at 113.50 area. Support is located at the bullish trend line on the 4-hour chart, only a breakdown below the trend line support could signal completion of the uptrend.

USDJPY 4-hour chart