No changed in our view, USDJPY remains in uptrend from 109.11, the fall from 110.81 could be treated as consolidation of the uptrend. Another rise could be expected after the correction and next target would be at around 112.00. Near term resistance is at 110.81, a break of this level could signal resumption of the uptrend. Support is at 109.11, only a breakdown below this level could trigger another fall towards 108.13 (Apr 17 low).
