USDJPY Daily Analysis – May 27, 2020

USDJPY moved sideways in a narrow range between 107.32 and 108.08. As long as the price is in the rising price channel on the 4-hour chart, the upside movement from 105.98 could be expected to continue and next target would be at 108.50 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