USDJPY broke above 92.32 key resistance, suggesting that the long term downtrend from 101.43 has completed at 84.82 level already. Further rally is expected next week and next target would be at 94.00-95.00 area. Support level is now located at 91.00, as long as this level holds, uptrend could be expected to continue.
For long term analysis, USDJPY has formed a cycle bottom at 84.82 level on weekly chart. Bounce towards 100.00 area is expected in next several weeks.
