USDJPY breaks above the resistance of the upper border of the falling price channel, suggesting that the downtrend from 101.43 has completed at 91.73 level already. Further rise to 99.00-100.00 area is expected next week and range trading between 91.73 and 101.43 could be seen to follow.
For long term analysis, USDJPY formed a cycle top at 101.43 level on weekly chart. Further fall to 89.00-90.00 to reach the next cycle bottom is expected in next several weeks.
