USDJPY Daily Analysis – March 2, 2020

USDJPY dropped sharply from 112.22 to as low as 107.36. Further decline is still possible after a minor consolidation and next target would be at 106.50 area. Near term resistance is at 108.55, a break of this level could bring the price back towards the falling trend line on the 4-hour chart.

USDJPY 4-hour chart