USDJPY Daily Analysis – January 24, 2019

USDJPY moved sideways in a trading range between 109.14 and 109.99. As long as 109.14 support holds, the price action in the range could be treated as consolidation for the uptrend from 107.76, further rise to 110.40 area is still possible after the consolidation. Only a breakdown below 109.14 support could bring the price back to 107.50 zone.

USDJPY 4-hour chart