USDJPY Weekly Analysis – January 5, 2020

USDJPY broke below 107.88 support, suggesting that the upside movement from 104.44 had completed at 109.72 already. Further decline would likely be seen and next target would be at 106.50 area. Near term resistance is at 108.50, only break above this level could trigger another rise to test 109.72 resistance.

USDJPY daily chart