USDJPY Daily Analysis – June 26, 2019

USDJPY extended its downside movement from 108.80 to as low as 106.77. As long as 107.73 resistance holds, the bounce from 106.77 could be treated as consolidation for the downtrend from 108.80, further decline to 106.00 is still possible after the consolidation. Only break above 107.73 resistance could signal completion of the downtrend.

USDJPY 4-hour chart