USDJPY Daily Analysis – July 9, 2019

USDJPY stays in a rising price channel on the 4-hour chart and remains in the uptrend from 107.53. As long as the channel support holds, the upside movement could be expected to continue and next target would be at 109.50 area. On the downside, a clear break below the channel support would indicate that the upside movement is complete, then the following downside movement could bring the price back to 107.90 area.

USDJPY 4-hour chart