USDJPY is facing the resistance of the falling trend line on the 4-hour chart. As long as the trend line resistance holds, the bounce from 110.10 could be treated as consolidation for the downtrend from 112.15, another fall towards 109.50 is still possible after the consolidation. However, a break of the trend line resistance would indicate that the downside movement had completed at 110.10 already, then further rally towards 112.00 could be seen.
