USDJPY formed sideways movement in a trading range between 108.13 and 115.50 for several months. Another fall to retest 108.13 support would likely be seen, and a breakdown below this level signal resumption of the downtrend from 118.66, then next target would be at 104.00 area. Near term resistance is at 112.50, only break above this level could trigger another rise towards 115.50.
