USDJPY Daily Analysis – May 7, 2019

USDJPY stays below a bearish trend line on the 4-hour chart and remains in the downtrend from 112.40. As long as the trend line resistance holds, the bounce from 110.28 could be treated as consolidation for the downtrend. Near term resistance is at 110.95, a break of this level could bring the price back towards the trend line.

USDJPY 4-hour chart