USDJPY Weekly Analysis – May 3, 2020

USDJPY extended its downside movement from 111.71 to as low as 106.35, breaking below 106.90 support. Deeper decline is still possible and next target would be at 104.00 area. Near term resistance is at 108.10, only break above this level could trigger another rise to 111.00 zone.

USDJPY daily chart