USDJPY Daily Analysis – January 21, 2020

USDJPY moved sideways in a narrow rang between 109.78 and 110.28. As long as 109.78 support holds, the sideways movement could be treated as consolidation for the uptrend from 107.65, further rise to 110.80 area is possible after the consolidation. 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