USDJPY Daily Analysis – June 11, 2019

USDJPY’s bounce from 107.81 extended to as high as 108.71, breaking above 108.61 resistance. Further rally could be expected and next target would be at 109.00 area. However, as long as 109.00 resistance holds, the bounce could be treated as consolidation for the downtrend from 112.40, another fall towards 107.00 is still possible after the consolidation.

USDJPY 4-hour chart