USDJPY Daily Analysis – August 12, 2020

USDJPY is facing the resistance of the falling trend line on the 4-hour chart. A clear break above the trend line resistance would indicate that the downtrend from 108.16 (Jul 1 high) had completed at 104.18 already, then next target would be at 108.00 area. Near term support is 106.00, a breakdown below this level could bring the price back towards 105.00.

USDJPY 4-hour chart