USDJPY Daily Analysis – March 12, 2020

After touching the resistance of the falling trend line on the 4-hour chart, USDJPY dropped sharply to 103.09, breaking below 103.20 support, suggesting that the pair remains in the downtrend from 112.22. Further decline could be expected in a couple of days and next target would be at 101.60 area. Key resistance is at 105.91, only break above this level could signal completion of the downtrend.

USDJPY 4-hour chart