USDJPY’s downward movement from 92.88 extended to as low as 85.02. Further fall towards 84.82 (2009 low) could be seen next week, a break below this level will target 82.00 or even lower. Resistance is at the falling trend line from 92.88 to 88.11, now at 87.10, only rise above the trend line resistance could indicate that the fall from 92.88 is complete.
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.
