USDJPY Daily Analysis – April 15, 2020

USDJPY’s downside movement from 109.38 extended to as low as 106.92. As long as the price is below the falling trend line on the 4-hour chart, the downside movement could be expected to continue and next target would be at 106.50 area. Near term resistance is at 107.40, a break of this level could bring the price back towards the trend line.

USDJPY 4-hour chart