USDJPY Daily Analysis – August 5, 2020

USDJPY failed to break above the resistance of the falling trend line on the 4-hour chart and pulled back from 106.47. As long as the trend line resistance holds, the downtrend from 108.16 could be expected to resume and further decline towards 103.00 is still possible. Only break above the trend line resistance could signal completion of the downtrend.

USDJPY 4-hour chart