USDJPY Daily Analysis – July 24, 2018

USDJPY remains in the downtrend from 113.17, the bounce from 110.75 is likely consolidation for the downtrend. Further decline is still possible after the consolidation and next target would be at 109.00 area. Resistance is at 111.90, only a break of this level could signal completion of the downtrend.

USDJPY 4-hour chart