USDJPY broke above the top trend line of the price channel on its 4-hour chart, suggesting that the short term downtrend from 114.49 had completed at 110.62 already. Further rise to test 112.41 resistance could be expected and a break of this level could trigger another rise towards 115.50. Support is at 110.62, only a breakdown below this level could bring price back to the downtrend, then next target would be at 109.50 zone.
