USDJPY Daily Analysis – May 7, 2020

USDJPY stays below a falling trend line on the 4-hour chart and remains in the downtrend from 109.38. As long as the trend line resistance holds, the downside movement could be expected to continue and next target would be at 105.00 area. Near term resistance is at 106.50, a break of this level could bring the price back towards the trend line.

USDJPY 4-hour chart