USDJPY Daily Analysis – May 8, 2019

USDJPY extended its downside movement from 112.40 to as low as 109.96. Further decline is still possible in a couple of days and next target would be at 109.50 area. Near term resistance is at 110.95, a break of this level could bring the price back towards the falling trend line on the 4-hour chart.

USDJPY 4-hour chart