USDJPY moves sharply to as high as 98.70 level. Further rise to test 100.54 previous high resistance is expected after consolidation. Near term support is located at 95.80, as long as this level holds, the uptrend from 87.12 will continue.
For long term analysis, USDJPY formed a cycle bottom at 87.12 on weekly chart. Further rise to 108.00 zone to reach the next cycle top is now in favor.
