USDJPY Weekly Analysis – May 19, 2019

USDJPY’s downside movement from 112.40 extended to as low as 109.01, the subsequent bounce suggested that the downside move had completed. Further rally would likely be seen next week and next target would be at 111.50 area. Support is at 109.01, only break below this level could trigger another fall towards 107.00.

USDJPY daily chart