No changed in our view, USDJPY remains in the downtrend from 111.13, the bounce from 110.27 could be treated as consolidation for the downtrend. Another fall could be expected after the consolidation and a breakdown below 110.27 support could take the price to 109.50 area. Resistance is at 111.13, only a breakout of this level could trigger another rise to 111.50 area.
