USDJPY stays in a bearish price channel on the 4-hour chart and remains in the downtrend from 114.20. As long as the price is in the channel, the bounce from 112.30 could be treated as consolidation for the downtrend and further decline towards 111.50 is still possible after the consolidation. Key resistance is at 113.00, only a break of this level could signal completion of the downtrend.
