USDJPY moved sideways in a trading range between 112.21 and 113.25. As long as the price is in the rising price channel on the 4-hour chart, the sideways move could be treated as consolidation of the uptrend from 107.31, and further rise to 114.00 area could be expected after the consolidation. Near term support is at the bottom trend line of the channel, and key support is at 111.47, only a breakdown below this level could indicate that a correction pullback is underway, then the pair would find next support level at 109.54.
