USDJPY stays in a falling price channel on the 4-hour chart and remains in the downtrend from 114.03. As long as the channel resistance holds, the bounce from 112.57 could be treated as consolidation for the downtrend and further decline towards 112.00 is possible after the consolidation. Key resistance is at 113.24, a break of this level would indicate that the downside move had completed at 112.57 already, then the following upside movement could bring the price back to 113.80 zone.
