USDJPY Daily Analysis – January 8, 2020

USDJPY is in consolidation for the downtrend from 109.70. Sideways movement in a trading range between 107.77 and 108.86 would likely be seen in a couple of days. As long as 108.86 resistance holds, the downtrend could be expected to resume, and further decline to 107.00 area is possible after the consolidation.

USDJPY 4-hour chart