USDJPY Daily Analysis – January 20, 2020

USDJPY extended its upside movement from 107.65 to as high as 110.28. Key support is at 109.78, as long as this level holds, the upside movement could be expected to continue and next target would be at 110.50 area. On the downside, a breakdown below 109.78 support would indicate that the upside movement had completed at 110.28 already, then the pair would find support at around 109.00.

USDJPY 4-hour chart