USDJPY is in uptrend from 108.13, the pullback from 114.36 is likely correction of the uptrend. Near term resistance is at 112.12, as long as this level holds, the correction pullback could be expected to continue, and deeper decline to 109.60 area is still possible. On the upside, a break of 112.12 resistance could indicate that the uptrend from 108.13 has resumed, then the following bullish movement could bring price to retest 115.50 resistance.
