USDJPY Daily Analysis – May 15, 2019

USDJPY remains in the downtrend from 112.40, the bounce from 109.01 is likely consolidation for the downtrend. As long as 110.04 resistance holds, the downside movement could be expected to continue and next target would be at 108.50 area. Only break above 110.04 resistance could bring the price back towards the falling trend line on the 4-hour chart.

USDJPY 4-hour chart