USDJPY extended its downside movement from 114.73 to as low as 112.47 after breaking below 112.95 support. Near term resistance is at the falling trend line on the 4-hour chart. As long as the trend line resistance holds, the downtrend could be expected to continue and next target would be at 111.65. On the upside, a clear break of the trend line resistance will suggest that the downtrend had completed at 112.47 already, then next target would be at 113.91, followed by 114.73.
