USDJPY Daily Analysis – February 11, 2019

USDJPY moved sideways in a narrow range between 109.55 and 110.16. As long as 109.55 support holds, the sideways movement could be treated as consolidation for the uptrend from 108.49, further rise to 111.00 area could be expected after the consolidation. On the downside, a breakdown below 109.55 support would indicate that the upside movement had completed at 110.16 already, then the pair would find next support level at around 108.80.

USDJPY 4-hour chart