USDJPY broke below 101.65 (Jan 2005 low), and the down trend from 108.59 extended to as low as 101.41. Deeper decline to 98.00 is still possible next week. Near term resistance is at 104.17, a break of this level will signal consolidation to the down trend.
For long term analysis, USDJPY broke below the long term support at 101.65 (Jan 2005 low). Further fall to 95.00 area 95.00 area to reach the next cycle bottom on weekly chart is now in favor.
