USDJPY Daily Analysis – July 24, 2020

USDJPY broke below 106.64 support, suggesting that the downside movement from 108.16 has resumed. Further decline could be expected and next target would be at 106.00 area. Resistance is located at the falling trend line on the 4-hour chart, only break above the trend line resistance could signal completion of the downtrend.

USDJPY 4-hour chart