USDJPY Daily Analysis – May 29, 2020

USDJPY moved sideways in a narrow range between 107.32 and 108.08. As long as 107.32 support holds, the sideways movement could be treated as consolidation for the uptrend from 105.98, further rise towards 109.00 area is possible after the consolidation. On the downside, a breakdown below 107.32 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