USDJPY Daily Analysis – September 4, 2019

USDJPY broke below the bottom of the rising price channel on the 4-hour chart, suggesting that the upside movement from 104.44 had completed at 106.68 already. Deeper decline could be expected in a couple of days and next target would be at 105.00 area. Near term resistance is at 106.40, only break above this level could trigger another rise to test 107.08 resistance.

USDJPY 4-hour chart