USDJPY is in consolidation for the downtrend from 109.38. Range trading between 105.98 and 106.90 would likely be seen in a couple of days. As long as the price is below the falling trend line on the 4-hour chart, the downside movement could be expected to resume, and further decline towards 105.50 is possible after the consolidation. On the upside, a breakout of the trend line resistance would indicate that the downside movement had completed at 105.98 already, then another rise towards 108.00 could be seen.
