USDJPY stays in a trading range between 75.57 and 79.52. Lengthier consolidation in the range is still possible over the next several weeks. Now the pair may be forming a cycle bottom at 76.55 on daily chart, a break above 77.32 resistance could trigger another rise towards 79.52.
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.
