Being supported by 75.57 previous low, USDJPY rebounded strongly from 76.02. Further rise to test 79.52 resistance is still possible after consolidation, as long as this level holds, lengthier sideways movement between 75.57 and 79.52 could be seen over the next several 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 months.
