USDJPY formed a symmetrical triangle pattern on daily chart. The price action in the pattern is treated as consolidation of downtrend from 94.98 (May 5, 2010 high), a clear break below the lower boundary of the pattern will indicate that the downtrend has resumed, then deeper decline towards 75.00 could be seen.
For long term analysis, USDJPY is in consolidation of downtrend. A break below 80.30 key support could signal resumption of downtrend.
