USDJPY’s pullback from 100.54 extends to as low as 93.55 level last week. Deeper decline is still possible to retest the previous low support at 90.92 (Oct 24 low) level. However, the fall from 100.54 is treated as correction of up trend. As long as 90.92 level holds, we’d expect up trend to resume and one more rise above 100.54 is expected.
