USDJPY’s upward movement from 77.14 extends to as high as 82.83. Further rise would likely be seen next week, and next target would be at 84.00 area. Initial support is at 81.50, and the key support is at the upwards trend line on daily chart, only a clear break below the trend line could signal completion of the uptrend.
For long term analysis, USDJPY had formed a cycle bottom at 77.14 on weekly chart. Further rise to 86.00 area is possible over the next several weeks.
