USDJPY’s upward movement from 92.56 extends to as high as 99.94. Further rise is still possible, and next target would be at 101.00 area. Support is at 98.35, as long as this level holds, the uptrend will continue. However, a breakdown below 98.35 will suggest that a cycle top is being formed on 4-hour chart, then deeper decline to 97.50 to complete the consolidation could be seen.
