USDJPY broke above 77.85 key resistance, suggesting that a cycle bottom had been formed at 75.57 on daily chart, and the fall from 85.51 had completed. Range trading between 76.50 and 79.52 could be seen in a couple of weeks.
For long term analysis, USDJPY had formed a cycle bottom at 75.57 on weekly chart. Further rally towards 85.00 would likely be seen over the next several weeks.
