USDJPY Analysis – June 30, 2012

USDJPY is now in uptrend from 77.66. Further rise would likely be seen next week and next target would be at 82.00 area. Support is at 79.00, only break below this level could indicate that the rise from 77.66 has competed at 80.62 already, then the following downward movement could bring price to 76.00 zone.

For long term analysis, USDJPY has formed a cycle top at 84.17 on weekly chart. Pullback to 76.00 area would likely be seen over the next several weeks.

usdjpy daily chart