USDJPY Daily Analysis – January 30, 2020

USDJPY moved sideways in a trading range between 108.73 and 109.26. The price action in the range is likely consolidation for the downtrend from 110.28, further decline to 108.00 area is possible after the consolidation. Resistance is at 109.26, a break of this level could trigger further upside movement to 109.70 area.

USDJPY 4-hour chart