USDJPY Daily Analysis – May 14, 2019

USDJPY extended its downside movement from 112.40 to as low as 109.01. Further decline is still possible after a minor consolidation and next target would be at 108.50 area. Resistance is at 110.04, only break above this level could bring the price back towards the falling trend line on the 4-hour chart.

USDJPY 4-hour chart