USDJPY continued its downward movement from 115.50

USDJPY continued its downward movement from 115.50 and the fall extended to as low as 112.26. Resistance is located at the top of the price channel on 4-hours chart. As long as the channel resistance holds, the downtrend could be expected to continue and further decline to test 111.59 support is possible. On the upside, a clear break above the channel resistance will indicate that the downtrend is complete, then another rise to test 115.60 resistance could be seen.