USDJPY Daily Analysis – August 15, 2019

USDJPY failed to break above 107.08 resistance and stays in a trading range between 105.04 and 107.08. As long as 107.08 resistance holds, the price action in the range could be treated as consolidation for the downtrend from 109.31, further decline to 104.00 area is still possible, only break above 107.08 resistance could signal completion of the downtrend.

USDJPY 4-hour chart