USDJPY Daily Analysis – October 24, 2018

USDJPY broke below the rising trend line on the 4-hour chart, suggesting that the short term uptrend from 111.62 had completed at 112.88 already. The pair is now in downtrend, further decline to test 111.62 support could be expected. Resistance is at 112.88, only a break of this level could trigger another rise towards 113.50.

USDJPY 4-hour chart