USDJPY Analysis – March 6, 2010

USDJPY remains in downtrend from 93.75. Another fall towards 84.82 previous low is still possible. Resistance is at the falling trend line from 93.75 to 92.14, as long as the trend line resistance holds, downtrend could be expected to continue.

For long term analysis, USDJPY formed a cycle top at 93.75 level on weekly chart. Fall towards 84.82 previous low is expected.

usdjpy daily chart