USDJPY moved sideways in a trading range between 112.21 and 113.43. As long as 112.21 level holds, the sideways move could be treated as consolidation of the uptrend from 107.31, and further rise to 114.00 area cold be expected after the consolidation. On the downside, a breakdown below 112.21 level could bring price back to test 111.47 key support. Below this level would confirm that the upside movement from 107.31 had completed at 113.43 already, then the following correction pullback could take price to 109.50 area.

usdjpy 4-hour chart


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