USDJPY Daily Analysis – February 28, 2019

USDJPY continued its sideways movement in a trading range between 110.25 and 111.23. As long as 110.25 support holds, the sideways movement could be treated as consolidation for the uptrend from 108.49, a breakout of 111.23 resistance could take the price to 112.00 area. On the downside, a breakdown below 110.25 support would indicate that the uptrend had completed at 111.23 already, then deeper decline to 109.00 area could be seen.

USDJPY 4-hour chart