USD/JPY Is Still Consolidating

USD/JPY has been consolidating between 101.30 and 103.30 for the past week or so and it appears that consolidation is not about to end anytime soon, as the pair reached the resistance at 103.20 – 103.30 again and bounced off that level, forming a shooting star candlestick on the four-hour time-frame under that level. We can likely expect a further move to the downside towards the support at 102.20, which coincides with (MA)89 indicator on the same time-frame and a possible breakout below that level will probably lead to a further move to the downside towards the aforementioned support at 101.30.