USDJPY Daily Analysis – March 9, 2020

USDJPY’s downside movement from 112.22 extended to as low as 101.53. Further decline is still possible after a minor consolidation and next target would be at 100.50 area. Near term resistance is at 103.50, a break of this level could bring the price back towards the falling trend line on the 4-hour chart.

USDJPY 4-hour chart