USDJPY Daily Analysis – May 5, 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 downside movement could be expected to continue and next target would be at 106.00 area. Near term resistance is at 107.05, above this level could trigger another rise towards the top of the channel.

USDJPY 4-hour chart