USDJPY moved sideways in a trading range between 109.14 and 109.99 for several days. As long as 109.14 support holds, the price action in the trading range could be treated as consolidation for the uptrend from 107.76, a breakout of 109.99 resistance could trigger further upside movement to 110.50 area. On the downside, a breakdown below 109.14 support would indicate that the upside movement had completed at 109.99 already, then deeper decline to 107.50 area could be seen.
