USDJPY Analysis – June 15, 2013

USDJPY is now in downtrend from 103.73. Further decline would likely be seen in a couple weeks, and next target would be at 90.00 area. Resistance is at 98.00 only break above this level will indicate that correction of the downtrend is underway, then further rally to 100.00 area could be seen.

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