USDJPY Daily Analysis – November 1, 2019

USDJPY extended its downside movement from 109.28 to as low as 107.88, breaking below 108.25 support. Further decline is still possible after a minor consolidation and next target would be at 107.50 area. Near term resistance is at 108.35, as long as this level holds, the downtrend will continue.

USDJPY 4-hour chart