USDJPY Daily Analysis – March 27, 2020

USDJPY broke below the bullish price channel on the 4-hour chart, suggesting that the upside movement from 101.17 had completed at 111.71 already. Further decline would likely be seen after a minor consolidation and next target would be at 107.00 area. Near term resistance is at 109.75, above this level could bring the price back to 110.60 area.