USDJPY’s bounce from 101.23 extended to as high as 101.64. As long as 101.85 resistance holds, the bounce could be treated as consolidation of the downtrend from 102.79, another fall to 100.90 area is still possible after consolidation. On the upside, a break above 101.85 resistance will indicate that the downtrend had completed at 101.23 already, then the following upward movement could bring price back to 103.50 area.
