USDJPY drops below 93.53 long term key support, suggesting that the downtrend from 101.43 has resumed. Deeper decline is now in favor and target would be at 90.50 zone. However, the downtrend could be suspended by the lower border of the price channel on daily chart, and rebound to the upper border would possible be seen to follow.
For long term analysis, USDJPY breaks below 93.53 key support and has formed a cycle top at 101.43 level on weekly chart. Consolidation in a range between 97.12 and 101.43 is expected in next several weeks.
