USDJPY breaks out of the trading range between 87.98 and 90.74 and reaches as high as 92.23 level, suggesting that a short term cycle bottom has been formed at 88.58 on 4-hour chart. Further rise is still possible, and the next target would be at 94.00 zone. Initial support is now at 88.58, only fall below this level will take price back to retest 87.12 previous low support.
