USDJPY Daily Analysis – January 16, 2020

USDJPY is in consolidation for the uptrend from 107.65, range trading between 109.40 and 110.20 would likely be seen in a couple of days. As long as 109.40 support holds, the uptrend could be expected to resume, a breakout of 110.20 could trigger further upside movement to 110.50 area. 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 next support at around 108.50.

USDJPY 4-hour chart