USDJPY Daily Analysis – August 9, 2018

USDJPY extended its downside movement from 112.15 to as low as 110.75. As long as the price is below the falling trend line on the 4-hour chart, the downside movement could be expected to continue and deeper decline to test 110.58 support is possible, a breakdown below this level would aim 110.00 area. Only a clear break of the trend line resistance could trigger another rise towards 113.17 resistance.

USDJPY 4-hour chart