USDJPY extended its downside movement from 114.73 to as low as 110.84. Near term resistance is at the falling trend line on the 4-hour chart. As long as the trend line resistance holds, the downside movement could be expected to continue and next target would be at 109.50 area. On the upside, a breakout of the trend line resistance could bring price back to next resistance level at 111.69. Above this level will indicate that the downside movement had completed at 110.84 already, then further rise towards 113.00 could be seen.
