USDJPY Daily Analysis – October 16, 2019

USDJPY extended its upside movement from 106.48 to as high as 108.89. 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 109.50 area. Key support is at 108.03, only break below this level could signal completion of the uptrend.

USDJPY 4-hour chart