USDJPY bounced strongly from 80.93, suggesting that a cycle bottom had been formed on daily chart. Lengthier consolidation of downtrend from 94.98 would likely be seen and further rise towards 84.50 resistance is expected next week, above this level could target 86.00 or even 87.50.
For long term analysis, USDJPY is in consolidation of downtrend. Further rally is possible in next several weeks and target would be at 84.50 area.
