Being contained by 84.50 resistance, USDJPY pulled back from 83.96, suggesting that a cycle top is being formed on daily chart. Deeper decline would likely be seen next week, and target would be at 82.00 area. Initial resistance is at 83.96, only break above this level would trigger another rise towards 85.50 zone.
For long term analysis, USDJPY is in consolidation of downtrend. Further rally is possible in next several weeks and target would be at 85.50 area.
