USDJPY failed to break above 108.08 resistance and stayed in a trading range between 106.92 and 108.08. The price action in the range is likely consolidation for the downtrend from 109.38, a breakdown below 106.92 support could take the price to 105.00 area. Key resistance is at 108.08, a breakout of this level could trigger another rise towards 109.00.
