USDJPY Daily Analysis – May 28, 2020

USDJPY formed a sideways consolidation in a trading range between 107.32 and 108.08. The price action in the range is likely consolidation for the uptrend from 105.98, further rise to 108.50 area is possible after the consolidation. Support is at the bottom of the price channel on the 4-hour chart, only break below the channel support could trigger another fall towards 106.00.

USDJPY 4-hour chart