USDJPY had formed a cycle bottom at 79.58 on daily chart. Further rally is still possible next week, and target would be at 83.00 area. Support is now at 81.00, only break below this level could trigger another fall to 78.00 zone.
For long term analysis, USDJPY is in consolidation of long term downtrend from 124.16 (2007 high). Range trading between 76.40 and 90.00 is expected in next several months.
