USDJPY Daily Analysis – July 17, 2020

USDJPY is facing 107.43 resistance, a breakout of this level 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 107.43 resistance holds, the downside movement could be expected to resume, and further decline towards 106.00 is still possible.

USDJPY 4-hour chart