USDJPY Daily Analysis – May 22, 2020

USDJPY stays in a rising price channel on the 4-hour chart and remains in the uptrend from 105.98. As long as the channel support holds, the upside movement could be expected to continue and next target would be at 109.00 area. On the downside, a breakdown below the channel support would indicate that the upside movement had completed at 108.08 already, then another fall towards 106.00 could be seen.

USDJPY 4-hour chart