USDJPY Daily Analysis – May 11, 2020

USDJPY is facing the resistance of the falling trend line on the 4-hour chart. A breakout of the trend line resistance would indicate that the downside movement from 1.0938 had completed at 105.98 already, then next target would be at 107.80 area. On the downside, 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.

USDJPY 4-hour chart