USDJPY Weekly Analysis – January 19, 2020

USDJPY extended its upside movement from 104.44 to as high as 110.28, breaking above 109.72 resistance. Further rise could be expected next week and next target would be at 111.50 area. Near term support is at 109.40, a breakdown below this level could bring the price back towards the rising trend line on the daily chart.

USDJPY daily chart