USDJPY moved sideways in a trading range between 101.60 and 102.35. Resistance is at 102.35, as long as this level holds, the price action in the range could be treated as consolidation of the downtrend from 102.79, another fall to 101.00 area would likely be seen after consolidation. On the upside, a break above 102.35 resistance will signal resumption of the longer term uptrend from 100.82 (May 21 low), then the following upward movement could bring price to 103.50 area.
