USDJPY Daily Analysis – May 12, 2020

USDJPY broke above the falling trend line on the 4-hour chart, suggesting that the downside movement from 109.38 had completed at 105.98 already. Further rally would likely be seen and next target would be at 109.00 area. Next term support is at 107.00, only break below this level could trigger another fall towards 105.00.

USDJPY 4-hour chart