USDJPY Daily Analysis – November 15, 2019

USDJPY extended its downside movement from 109.48 to as low as 108.23, breaking below 108.64 support. As long as the price is in the falling channel on the 4-hour chart, the downside movement could be expected to continue and next target would be at 107.88 support. On the upside, a breakout of the channel resistance would indicate that the downside movement had completed at 108.23 already, then next target would be at 109.00, followed by 109.48.

USDJPY 4-hour chart