USDJPY Daily Analysis – March 23, 2020

USDJPY extended its upside movement from 101.17 to as high as 111.50. As long as the price is above the rising trend line on the 4-hour chart, the upside movement could be expected to continue and next target would be at 112.50 area. Near term support is at 109.32, a breakdown below this level could bring the price back towards the trend line.

USDJPY 4-hour chart