USDJPY Daily Analysis – August 8, 2019

USDJPY remains in the downtrend from 109.31, the price action from 105.52 is likely consolidation for the downtrend. As long as 107.08 resistance holds, the downside movement could be expected to resume, further decline to 105.00 area is still possible, only break above 107.08 resistance could signal completion of the downtrend.

USDJPY 4-hour chart