USDJPY’s uptrend from 88.01 is limited by 92.53 key resistance. However, the fall from 92.32 is more likely consolidation of uptrend, another rise is still in favor, and a break above 92.32 level will signal further rally to 95.00 or even 98.00. key support is at 88.01, only fall below this level will indicate that the long term downtrend from 101.43 has resumed, then deeper decline could be seen to 85.00 zone.
For long term analysis, USDJPY might be forming a cycle bottom at 88.01 level on weekly chart. Key resistance is at 92.53, a breakout of this level will confirm the cycle bottom.
