USDJPY Daily Analysis – January 27, 2020

USDJPY’s downside movement from 110.28 extended to as low as 108.73. Further decline could be expected after a minor consolidation and next target would be at 108.40 area. Resistance is located at the bearish trend line on the 4-hour chart, only break above the trend line resistance could signal completion of the downtrend.

USDJPY 4-hour chart