USDJPY breaks below the support of the rising trend line from 93.53 to 95.62. Deeper decline to test 95.62 level is possible later today, a break below this level will signal deeper decline to test 93.50 key support. Key resistance is now at 99.64, only rise above this level will signal resumption of uptrend.
For long term analysis, USDJPY formed a cycle bottom at 87.12 on weekly chart. Further rise to 105.00 zone to reach the next cycle top is expected.
