USDJPY breaks below 89.72 key support, suggesting that a cycle top has been formed at 94.61 on daily chart. Deeper decline is expected to test 87.13 previous low support. If this level gives way, the next target would be at 84.00 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.
