USDJPY remains in downtrend from 112.19, the price action from 108.13 is likely consolidation of the downtrend. Resistance is at the top of the price channel on 4-hour chart. As long as the pair is in the channel, the downtrend could be expected to continue and next target would be at 107.00 area. Only a clear break above the channel resistance could signal completion of the downtrend.
