USD/JPY is facing 114.45 resistance. A breakout of this level could signal resumption of the uptrend from 111.65, then next resistance level would be at 115.50. Near term support is at 113.50. Below this level could see the price towards 112.95.
A breakdown below this level will indicate that lengthier consolidation for the uptrend from 107.31 (Sep 8 low) is underway, then the following downside movement could take price to 112.30 area.
