USDJPY Daily Analysis – March 5, 2020

USDJPY stays below a bearish trend line on the 4-hour chart and remains in the downtrend from 112.22. As long as the trend line resistance holds, the bounce from 106.84 could be treated as consolidation for the downtrend, and further decline to 106.00 area is still possible after the consolidation. Near term resistance is at 107.75, a break of this level could bring the price back towards the trend line.

USDJPY 4-hour chart