USDJPY Daily Analysis – June 4, 2020

After consolidation, USDJPY broke above 108.08 resistance and extended its upside movement from 105.98 to as high as 109.04. Further rise is still possible after a minor consolidation and next target would be at 110.00 area. Near term support is at 108.40, below this level could bring the price back towards the rising trend line on the 4-hour chart.

USDJPY 4-hour chart