Being contained by 85.89 key resistance, USDJPY pulled back to as low as 84.12. However, one more rise to re-test 85.89 resistance is still possible, a clear break above this level will indicate that the downtrend from 94.98 has completed at 82.87 already, then the following upward move could bring price to 90.00 area. Key support is at 82.87, only break below this level could trigger another fall to 82.00 zone.
For long term analysis, USDJPY may be forming a cycle bottom at 82.87 level on weekly chart, bounce to 90.00 would more likely be seen in next several weeks.
