USD/JPY Is Testing the Support

USD/JPY reached the resistance at 114.80, formed two doji candlesticks on the four-hour time frame below the resistance level and started moving to the downside. Currently the pair is testing the support at 113.50 and should it break below that level it will likely continue towards the next level of support at 111.00. Also, a break below the previous low at 110.97 would confirm the continuation of the bearish trend. On the other hand, if the pair fails to break below the support at 113.50 I expect a new move to the upside, towards the previous high at 114.87.