USDJPY Daily Analysis – February 4, 2020

USDJPY is facing the resistance of the falling trend line on the 4-hour chart. A breakout of the trend line resistance would suggest that the downside movement from 110.28 had completed at 108.30 already, then further rise towards 109.26 resistance could be seen. On the downside, as long as the trend line resistance holds, the downtrend could be expected to resume, and further decline to 108.00 area is still possible.

USDJPY 4-hour chart