USDJPY Daily Analysis – October 7, 2019

USDJPY remains in the downtrend from 108.47, the bounce from 106.48 is likely consolidation for the downtrend. As long as 107.30 resistance holds, the downside movement could be expected to continue and next target would be at 106.00 area. On the upside, a breakout of 107.30 resistance would indicate that the downside movement had completed at 106.48 already, then another rise towards 108.50 could be seen.

USDJPY 4-hour chart