USDJPY Daily Analysis – August 17, 2020

USDJPY is facing the support of the rising trend line on the 4-hour chart. As long as the trend line support holds, the pullback from 107.05 could be treated as consolidation for the uptrend from 104.18, and further rise to 108.00 area is possible. On the downside, a breakdown below the trend line support would indicate that the upside movement had completed at 107.05 already, then the pair would find next support level at around 105.50.

USDJPY 4-hour chart