USDJPY Daily Analysis – April 3, 2020

USDJPY remains in the downtrend from 111.71, the price action from 107.12 is likely consolidation for the downtrend. As long as 108.72 resistance holds, the downside movement could be expected to resume, and further decline to 105.00 is still possible. On the upside, a break of 108.72 resistance would indicate that the downside movement had completed at 106.91 already, then another rise towards 112.00 could be seen.

USDJPY 4-hour chart