USDJPY continued its sideways movement in a trading range between 106.92 and 108.08. As long as 108.08 resistance holds, the sideways movement could be treated as consolidation for the downtrend from 109.38, and a breakdown below 106.90 support could trigger further downside movement to 105.00 area. On the upside, a break of 108.08 resistance would indicate that the downside movement had completed at 106.92 already, then another rise to 109.00 area could be seen.
