USDJPY Daily Analysis – April 26, 2019

USDJPY broke below 111.65 support, suggesting that consolidation for the uptrend from 109.70 is underway. Deeper decline is still possible and next target would be at the bottom of the price channel on the 4-hour chart. As long as the channel support holds, the uptrend could be expected to resume and another rise towards 113.50 is still possible after the consolidation. Only a clear break below the channel support could signal completion of the uptrend.

USDJPY 4-hour chart