USDJPY broke below 88.14 key support, suggesting that the bounce from 84.82 has completed at 94.98 already. Now the fall from 94.98 could possibly be resumption of long term downtrend from 124.16 (2007 high). Deeper decline is still possible next week and target is at 84.82 previous low.
For long term analysis, USDJPY has formed a cycle top at 94.98 level on weekly chart. Drop to 80.00 is expected in next several weeks.
