USDJPY’s downward movement from 84.17 extends to as low as 80.58. Deeper decline would likely be seen next week and next target would be at 80.00 area. Resistance is at 82.00, only break above this level could signal completion of the downward move.
For long term analysis, USDJPY may be forming a cycle top at 84.17 on weekly chart. Pullback to 78.00 area would likely be seen over the next several weeks.
