USDJPY Analysis - June 23, 2012

Long Term Forex Analysis | by ForexCycle.com | Saturday, 23 June 2012 13:25 UTC
USDJPY is facing 80.61 key resistance, a break above this level will confirm that the downward movement from 84.17 has completed at 77.66 already, then the following upward movement could bring price to 83.00 area. Support is at 79.00, only break below this level could trigger another fall towards 76.00.

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

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