USDJPY Daily Analysis – July 30, 2020

USDJPY extended its downside movement from 107.53 to as low as 104.77. Further decline would likely be seen and next target would be at 104.00 area. Near term resistance is at 105.50, a break of this level could bring the price back towards the falling trend line on the 4-hour chart.

USDJPY 4-hour chart