USDJPY Daily Analysis – January 29, 2020

USDJPY broke above the falling trend line on the 4-hour chart, suggesting that the downtrend from 110.28 had completed at 108.73 already. Further rally could be expected in a couple of days and next target would be at 109.70 area. Support is at 108.73, only break below this level could trigger another fall towards 108.00.

USDJPY 4-hour chart