USDJPY Daily Analysis – June 24, 2019

USDJPY’s downside movement from 108.80 extended to as low as 107.04. Deeper decline is still possible after consolidation and next target would be at 106.50 area. Resistance is at 107.73, a break of this level would indicate that the downside movement had completed at 107.04 already, then the following rally could take the price to 108.20 area.

USDJPY 4-hour chart