USDJPY Analysis – December 19, 2009

USDJPY broke above the falling price channel on daily chart, suggesting another rally towards 92.32 key resistance, a break above this level will confirm that the long term downtrend from 101.43 has completed at 84.82 already.

For long term analysis, USDJPY is forming a cycle bottom at 84.82 level on weekly chart, key resistance is at 92.32, above this level will confirm the cycle bottom.

usdjpy daily chart