USDJPY remains in downtrend from 120.47, the bounce from 118.23 could be treated as consolidation of the downtrend. Another fall to 116.50 area could be expected after consolidation, and a breakdown below 118.23 support could signal resumption of the downtrend.
![usdjpy chart](https://www.forexcycle.com/wp-content/uploads/2015/20150224_USDJPY_1.png)