USDJPY moved sideways in a trading range between 110.64 and 111.78. As long as 110.64 support holds, the fall from 111.78 could be treated as consolidation of the uptrend from 108.81 and further rise to 113.00 area could be expected after the consolidation. However, a breakdown below 110.64 support will suggest that the upward movement had completed at 111.78 already, then deeper decline to 109.70 area could be seen.
