USDJPY remains in the uptrend from 109.36, the fall from 113.13 is likely consolidation for the uptrend. Near term support is at the bottom trend line of the price channel on the 4-hour chart. As long as the channel support holds, the upside movement could be expected to resume and further rise to 113.50 area is possible. On the downside, a clear break below the channel support could bring the price back to test 112.19 support. Below this level would indicate that the upside movement had completed at 113.13 already, then deeper decline to 111.00 area could be seen.
