USDJPY had formed a cycle top at 83.96 level on daily chart. Deeper decline to test 80.30 key support is expected next week, a breakdown below this level will indicate that the long term downtrend from 94.98 has resumed, then next target would be at 75.00 area. However, as long as 80.30 key support holds, range trading between 80.30 and 84.50 is expected to continue and sideways movement in the range could be seen.
For long term analysis, USDJPY is in consolidation of downtrend. Only break below 80.30 key support could signal resumption of downtrend.
