USDJPY Daily Analysis – January 22, 2020

USDJPY continued its sideways movement in a trading range between 109.78 and 110.28. The sideways movement is likely consolidation for the uptrend from 107.65, further rise to 110.80 is possible after the consolidation. Support is at 109.78, only a breakdown below this level could bring the price back to 109.00 area.

USDJPY 4-hour chart