USDJPY Daily Analysis – November 13, 2018

USDJPY extended its upside movement from 111.37 to as high as 114.20. As long as the price is in the rising price channel on the 4-hour chart, the upside movement could be expected to continue and next target would be at 114.50 area. On the downside, a breakdown below the channel support could bring the price back to next support level at 112.94, only a breakdown below this level could signal completion of the uptrend.

USDJPY 4-hour chart