USDJPY Daily Analysis – August 23, 2018

USDJPY is facing the falling trend line on the 4-hour chart. As long as the trend line resistance holds, the bounce from 109.77 could be treated as consolidation for the downtrend from 112.15 and another fall towards 109.00 is still possible after the consolidation. Key resistance is at 111.43, only a break of this level could signal completion of the downtrend.

USDJPY 4-hour chart