USDJPY Daily Analysis – December 17, 2019

USDJPY’s bounce from 108.42 extended to as high as 109.70. Further rise is still possible after a minor consolidation and next target would be at the top of the price channel on the 4-hour chart. Near term support is at 109.10, below this level could bring the price back towards the bottom of the channel.

USDJPY 4-hour chart