USDJPY Daily Analysis – May 1, 2020

USDJPY stays in a falling price channel on the 4-hour chart and remains in the downtrend from 109.38. As long as the channel resistance holds, the bounce from 106.35 could be treated as consolidation for the downtrend, and another fall towards 106.00 could be expected after the consolidation, only break above the channel resistance could signal completion of the downtrend.

USDJPY 4-hour chart