USDJPY Analysis – August 30, 2009

USDJPY remains in downtrend from 101.43. Further fall is still in favor and next target is to test 91.73 previous low support, a break down below this level will signal deeper decline towards 89.00-90.00 area.

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.

usdjpy daily chart