USDJPY Daily Analysis – January 9, 2020

USDJPY broke above 108.86 resistance, suggesting that the downtrend from 109.70 had completed at 107.65 already. Further rise could be expected after a minor consolidation and next target would be at 109.50 area. Near term support is at 108.90, below this level could bring the price back into 108.30 zone.

USDJPY 4-hour chart