USDJPY remains in uptrend from 77.14, and the rise extends to as high as 88.40. support is now at 87.00, as long as this level holds, the uptrend could be expected to continue, and next target would be at 90.00 area. On the downside, a breakdown below 87.00 will suggest that a cycle top is being formed on daily chart, and consolidation of the uptrend is underway, then pullback to 85.00 area could be seen.
For long term analysis, USDJPY had formed a cycle bottom at 77.14 on weekly chart. Further rise to 95.00 area is possible over the next several weeks.
