USDJPY Daily Analysis – April 22, 2020

USDJPY stays in a narrow range between 106.92 and 108.08. The price action in the range could be treated as consolidation for the downtrend from 109.38, a breakdown below 106.91 support could trigger further downside movement towards 105.00. On the upside, a break of 108.08 resistance would indicate that the downtrend from 109.38 had completed at 106.92 already, then another rise towards 109.00 could be seen.

USDJPY 4-hour chart