USDJPY formed a sideways consolidation in a range between 111.58 and 115.62. As long as 115.62 resistance holds, the sideways movement could be treated as consolidation of the downtrend from 118.66, and further decline to 110.00 area is still possible. On the upside, a break of 115.62 resistance will indicate that the downtrend had completed at 111.58 already, then the following upward movement could bring price to 120.00 zone.
