USDJPY Daily Analysis – May 30, 2018

USDJPY extended its downside movement from 111.39 to as low as 108.11. Further decline is still possible after a minor consolidation and next target would be at 107.00 area. Resistance is at the top trend line of the price channel on the 4-hour chart, only a clear break above the channel resistance could signal completion of the downtrend.

USDJPY 4-hour chart