USDJPY stays in a trading range between 101.06 and 101.78. As long as 101.78 resistance holds, the price action in the range could be treated as consolidation of the downtrend from 102.79 (Jun 4 high), another fall to test 100.75 support could be expected after consolidation. On the upside, a break above 101.78 resistance will signal completion of the the downtrend, then the following upward movement could bring price to 103.50 area.
