USDJPY Daily Analysis – July 15, 2020

USDJPY is testing the resistance of the falling trend line on the 4-hour chart. A clear break of the trend line resistance would indicate that the downside movement from 108.16 had completed at 106.64 already, then another rise towards 108.50 could be seen. However, as long as the trend line resistance holds, the downside movement could be expected to resume and further decline towards 106.00 is still possible.

USDJPY 4-hour chart