USDJPY Daily Analysis – July 5, 2018

USDJPY is now in the downtrend from 111.13, the bounce from 110.27 is likely consolidation for the downtrend. Further decline could be expected after the consolidation and a breakdown below 110.27 support could trigger another fall towards 109.50. Resistance is at 111.13, a breakout of this level could take the price to 111.50 area.

USDJPY 4-hour chart