USDJPY is in downtrend from 110.94, the bounce from 108.60 could be treated as consolidation of the downtrend. Resistance is at 109.59, as long as this level holds, the downtrend could be expected to continue and further decline to test 108.13 (Apr 17 low) support is possible. Only break above 109.59 resistance could bring price back into 110.50 zone.
