USDJPY Daily Analysis – October 29, 2019

USDJPY broke above 108.93 resistance, suggesting that the uptrend from 106.48 has resumed. As long as the price is above the rising trend line on the 4-hour chart, the upside movement could be expected to continue and next target would be at 109.50 area. On the downside, a breakdown below the trend line support would indicate that lengthier consolidation for the uptrend is needed, then another fall towards 108.00 could be seen.

USDJPY 4-hour chart