USDJPY Daily Analysis – May 6, 2020

USDJPY extended its downside movement from 109.38 to as low as 106.20, breaking below 106.35 support. As long as the price is below the falling trend line on the 4-hour chart, the downside movement could be expected to continue and next target would be at 105.50 area. Only break above the trend line resistance could signal completion of the downtrend.

USDJPY 4-hour chart