USDJPY Daily Analysis – February 5, 2020

USDJPY broke above the falling trend line on the 4-hour chart, suggesting that the downtrend from 110.28 had completed at 108.30 already. Further rally would likely be seen in the coming days and next target would be at 110.00 area. Near term support is at 109.20, a breakdown below this level could bring the price back to 108.80 area.

USDJPY 4-hour chart