USDJPY Daily Analysis – January 15, 2020

USDJPY remains in the uptrend from 107.65. As long as 109.40 support holds, the pullback from 110.20 could be treated as consolidation for the uptrend, and further rise to 110.50 area is still possible after the consolidation. On the downside, a breakdown below 109.40 support would indicate that the upside movement had completed at 110.20 already, then the pair would find support at around 108.70.

USDJPY 4-hour chart