USDJPY continued its sideways movement in a range between 79.58 and 82.22. The sideways move is treated as consolidation of downtrend from 85.51. Another fall to 78.00 is expected after consolidation, and a breakdown below 79.58 will signal resumption of downtrend.
For long term analysis, USDJPY is in consolidation of long term downtrend from 124.16 (2007 high). Range trading between 76.40 and 90.00 is expected in next several months.
