USDJPY Analysis – June 9, 2013

USDJPY breaks below 97.00 key support, suggesting that the uptrend from 77.14 (Sep 13, 2012 low) had completed at 103.73 already. Further decline would likely be seen, and next target would be at 93.00 area. Resistance levels are at 100.00 and 103.73, only break above these levels could trigger another rise towards 110.00.

For long term analysis, USDJPY is now in downtrend from 103.73, pullback to 85.00 area would likely be seen over the next several months.

usdjpy daily chart
usdjpy weekly chart