USDJPY Daily Analysis – February 11, 2020

USDJPY moved sideways in a trading range between 109.53 and 110.02. As long as 109.53 support holds, the price action in the trading range could be treated as consolidation for the uptrend, further rise to 110.50 area is possible after the consolidation. On the downside, a breakdown below 109.53 would suggest that the upside move had completed at 110.02 already, then the pair would find support at around 109.00.

USDJPY 4-hour chart