USDJPY Daily Analysis – July 28, 2023

USDJPY has recently extended its downward trend, falling from 141.94 to as low as 138.05. Further decline is still possible in the coming days, with the next target being the 137.23 support level.

On the other hand, there is also resistance at the falling trend line on the 4-hour chart. Only if the price manages to break above this trend line resistance could another rise towards 145.00 be triggered.