USDJPY Daily Analysis – June 19, 2019

USDJPY stays in a trading range between 107.81 and 108.80. As long as 108.80 resistance holds, the price action in the range could be treated as consolidation for the downtrend from 112.40 (Apr 24 high), further decline to 107.00 area is possible after the consolidation. Only break above 108.80 resistance could signal completion of the downtrend.

USDJPY 4-hour chart