USDJPY dropped sharply from 84.40, suggesting that a cycle top had been formed on daily chart. Deeper decline to 81.00 area is expected next week. As long as 80.30 key support holds, the fall from 84.40 is treated as correction of uptrend, and another rise to 90.00 is still possible.
For long term analysis, USDJPY may be forming a cycle bottom at 80.30 level on weekly chart, key resistance is at 84.40, a break above this level will confirm the cycle bottom.
