USDJPY Analysis – March 30, 2013

USDJPY remains in uptrend from 77.14, the fall from 96.70 is likely consolidation of the uptrend. Deeper decline to 92.00 – 93.00 area to complete the consolidation is possible next week. Key support is at 90.93, only break below this level could signal completion of the uptrend.

For long term analysis, USDJPY had formed a cycle bottom at 77.14 on weekly chart. Further rise towards 100.00 is possible over the next several weeks.

usdjpy daily chart