USDJPY Analysis – April 17, 2010

USDJPY has formed a cycle top at 94.68 level on daily. Deeper decline is now in favor and next target would be at 90.00-91.00 area. Resistance is now at 93.70, only rise above this level could indicate that the uptrend from 88.14 has resumed, then another rise to 96.00 could be seen.

For long term analysis, USDJPY is in bullish movement from 84.82, further rise towards 100.00 could be seen in next several weeks.