USDJPY Daily Analysis – January 28, 2020

USDJPY stays below a falling trend line on the 4-hour chart and remains in the downtrend from 110.28. Further decline would likely be seen after a minor consolidation and next target would be at 107.40 area. On the upside, a breakout of the trend line resistance would indicate that the downside movement had completed at 108.73 already, then the pair would find resistance at around 109.60.

USDJPY 4-hour chart