The pair USD/JPY goes up somewhat on the Forex but the downside risks remain bright.
In fact, after the recent drop, USD/JPY finds support above 111.60, and goes back above 112.00.
However, the e movement has slowed in the resistance of 112.30, causing a consolidation in the range of 112.00/112.30 today.
Above 112.30 USD/JPY could go test 112.50, but it will break that threshold to find a bias more bullish and go for the top of the previous range at 113.20.
A break above could then resume the uptrend in short term.
Downward, downward pressures could strengthen below 112.00, to pick up the area of 111.60.
Below the fall could accelerate in the direction of 111.00/110.75.
The pair USD/JPY is currently trading at 112.20 on the Forex.
Chart USD/JPY H1