USDJPY Daily Analysis – April 23, 2020

USDJPY continued its sideways movement is a trading range between 106.92 and 108.08. As long as 108.08 resistance holds, the sideways movement could be treated as consolidation for the downtrend from 109.38, and further decline towards 105.00 is possible after the consolidation. Key resistance is at 108.08, a breakout of this level could trigger another rise towards 109.00.

USDJPY 4-hour chart