USDJPY remains in downtrend from 96.70, the rise from 93.53 is likely consolidation of the downtrend. Key resistance is now located at the upper line of the price channel on 4-hour chart. As long as the channel resistance holds, the downtrend could be expected to resume, and another fall to 92.00 – 93.00 area to complete to downward movement is possible. On the upside, a clear break above the channel resistance will indicate that the downtrend had completed, then the following upward movement could bring price to 100.00 zone.
