USDJPY Daily Analysis – May 23, 2019

USDJPY is facing the support of the rising trend line on the 4-hour chart. As long as the trend line support holds, the pullback from 110.67 could be treated as consolidation for the uptrend from 109.01, another rise towards 111.00 could be expected after the consolidation. On the downside, a breakdown below the trend line support would suggest that the upside movement had completed at 110.67 already, then deeper decline to 109.50 area could be seen.

USDJPY 4-hour chart