USDJPY Daily Analysis – November 8, 2018

USDJPY stays above a rising trend line on the 4-hour chart and remains in the uptrend from 111.37. As long as the trend line support holds, the price action from 113.81 could be treated as consolidation for the uptrend, and further rise to 114.00 area is still possible after the consolidation. Key support is now at 112.94, only a breakdown below this level could bring the price back to 112.00 area.

USDJPY 4-hour chart