USDJPY Weekly Analysis – August 23, 2020

USDJPY stays below a falling trend line on the daily chart and remains in the downtrend from 111.71. As long as the price is below the trend line, the price action from 104.18 could be treated as consolidation for the downtrend, and another fall to 103.00 area is possible after the consolidation. Only break above the trend line resistance could signal completion of the downtrend.

USDJPY daily chart