USDJPY is in uptrend from 80.30, the price action from 84.40 is treated as consolidation of uptrend. Pullback to 81.00-82.00 area to reach next cycle bottom on daily chart is expected next week. Key resistance is at 85.00, a break above this level could indicate that uptrend has resumed, then further rise to 87.50 could be seen.
For long term analysis, USDJPY has formed a cycle bottom at 80.30 level on weekly chart. Rise to 90.00 area to reach next cycle top is expected in next several weeks.
