USDJPY is testing the support of the price channel on the 4-hour chart. As long as the channel support holds, the fall from 112.40 could be treated as consolidation for the uptrend from 109.70, another rise towards 113.00 is still possible after the consolidation. On the downside, a breakdown below the channel support would indicate that the upside movement had completed at 112.40 already, then the pair would find next support at around 110.50.
