USDJPY moved sideways in a range between 101.77 and 103.44. Key resistance is located at upper line of the price channel on 4-hour chart, as long as the channel resistance holds, the price action in the range could be treated as consolidation of the downtrend from 105.44, another fall towards 100.00 could be expected after consolidation. Only a clear break above the channel resistance could signal completion of the downtrend.
