Being contained by 101.20 support, USDJPY rebounded to 101.94, suggesting that consolidation of the downtrend from 103.76 is underway. Range trading between 101.20 and 102.50 would likely be seen in a couple of days. As long as 102.50 resistance holds, another fall to re-test 101.20 support is still possible, a breakdown below this level will target 98.00 zone.
