USDJPY Daily Analysis – August 28, 2019

USDJPY remains in the downtrend from 109.31, the bounce from 104.44 is likely consolidation for the downtrend. As long as 107.08 key resistance holds, the downside movement could be expected to resume, further decline to 104.00 area is still possible after the consolidation, only break above 107.08 resistance could signal completion of the downtrend.

USDJPY 4-hour chart