USDJPY Weekly Analysis – February 9, 2020

USDJPY stays in a rising price channel on the daily chart and remains in the uptrend from 104.44. As long as the channel support holds, the upside movement could be expected to continue and the target would be at 110.50 area. Key support is at 107.65, a breakdown below this level would confirm that the upside move had completed at 110.28 already, then another fall towards 105.00 could be seen.

USDJPY daily chart