USDJPY Daily Analysis – April 16, 2020

USDJPY broke above the falling trend line on the 4-hour chart, suggesting that the downside movement from 109.38 had completed. Further rally would likely be seen and next target would be at 109.00 area. Near term support is at 106.91, only break below this level could trigger another fall towards 106.00.

USDJPY 4-hour chart