USDJPY remains in down trend. Deeper decline is still possible to 86.00 zone next week. Initial resistance is at the upper border of the price channel, as long as the channel resistance holds, we’d expect down trend to continue. However, above the channel resistance will indicate that the fall from 100.54 has completed, and the following rebound will bring price back towards 97.00 zone.
For long term analysis, USDJPY is in long term bearish movement. The price action from 90.92 is treated as consolidation to down trend. Further fall is expected to test 79.75 (1995 low) support.
