USDJPY Daily Analysis – July 16, 2020

USDJPY failed to break above the resistance of the falling trend line on the 4-hour chart and is now facing 106.64 support. Further decline would likely be seen and next target would be at 106.00 area. Key resistance is at 107.43, a breakout of this level could trigger another rise towards 109.00.

USDJPY 4-hour chart