USDJPY Daily Analysis – July 27, 2020

USDJPY extended its downside movement from 108.16 to as low as 105.68, breaking below 106.07 support. Further decline would likely be seen after consolidation and next target would be at 105.00 area. Near term resistance is at 106.30, a break of this level could bring the price back towards the falling trend line on the 4-hour chart.

USDJPY 4-hour chart