USDJPY is testing 90.92 previous low support. Rebound would more likely be seen before breaking below this level. Initial resistance is at 95.00 and key resistance is located at 97.43 level. A break above the key resistance will indicate that the fall from 100.54 has completed, and further rally could then be seen to 103.00 zone. However, below 90.92 will signal deeper decline towards 88.00 level.
For long term analysis, USDJPY might be forming a long term cycle bottom at 90.92 on weekly chart. Key resistance is located at 100.54, a break of this level will confirm the cycle bottom.
