USDJPY’s upward movement from 77.14 extends to as high as 89.44. Further rise could be expected next week, and next target would be at 91.00 area. Support is now at 88.00 only break below this level will indicate that a cycle top has been formed on daily chart, then consolidation of the uptrend could be seen to follow.
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.
