USDJPY Daily Analysis – May 9, 2019

USDJPY’s downside movement from 112.40 extended to as low as 109.90. 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 next target would be at 109.00. Near term resistance is at 110.50, only break above this level could bring the price back towards the trend line.

USDJPY 4-hour chart