USDJPY extended its downside movement from 114.73 to as low as 111.88, facing a key support level at 111.65. A breakdown this level could trigger further downside movement to next support level at 111.00. Near term resistance is at 112.70, and the key resistance is located at the bearish trend line on the 4-hour chart. Only a clear break above the trend line resistance could signal completion of the downtrend.
