USDJPY Weekly Analysis – May 11, 2019

USDJPY broke below the rising trend line on the daily chart, suggesting that the upside movement from 105.05 had completed at 112.40 already. Further decline could be expected in a couple of weeks and next target would be at 107.00 area. Near term resistance is at 110.50, only break above this level could trigger another rise towards 114.00.

USDJPY daily chart