USDJPY stays below the downward trend line on 4-hour chart and remains in downtrend from 118.66 (Dec 15, 2016 high). As long as the trend line resistance holds, the downtrend could be expected to continue and next target would be at 110.00 area. The key resistance is at 113.95, only break above this level will indicate that lengthier consolidation of the downtrend is underway, then further rise to 115.00 area could be seen.
