USDJPY continued its sideways movement

[forexcycle]

USDJPY continued its sideways movement in a range between 110.11 and 112.19. Resistance is at 112.19, as long as this level holds, the sideways movement could be treated as consolidation of the downtrend from 115.50 and further decline to 108.00 area is still possible. However, a break of 112.19 resistance will indicate that the downtrend had completed at 110.11 already, then the following rebound could bring price to 114.00 zone.