USDJPY Daily Analysis – May 24, 2018

USDJPY extended its downside movement from 111.39 to as low as 109.44. Further decline could be expected after a minor consolidation and next target would be at 108.50 area. Resistance is at 110.50, only a breakout of this level could trigger another bullish movement towards 113.00.

USDJPY 4-hour chart