USDJPY is now in downtrend from 113.75, the bounce from 112.03 is likely consolidation of the downtrend. A breakdown below 112.03 level could trigger further downside movement towards 110.84. Near term resistance is at 113.00, only break above this level could take price back to test 113.75 resistance. Above this level will indicate that the uptrend from 110.84 has resumed, then next target would be at 114.73.
