USDJPY Daily Analysis – December 10, 2019

USDJPY is testing the support of the rising price channel on the 4-hour chart. A breakdown below the channel support would confirm that the upside movement from 104.44 (Aug 26 low) had completed at 109.72 already, then the following downside movement could take the price to 107.00 area. Near term resistance is at 109.00, above this level could trigger another rise towards 110.00.

USDJPY 4-hour chart