USDJPY extended its downside movement from 113.75 to as low as 105.54. As long as the price is below the bearish trend line on the daily chart, the downside movement could be expected to continue and next target would be at 103.00 area. On the upside, a breakout of the trend line resistance could bring price back to test 110.48 key resistance. Only break above this level could signal completion of the downtrend.
