Yen Technical Outlook

The US Dollar/Japanese Yen may continue to bounce from recent multi-year lows, as the pair has hit the bottom of its multi-year trend channel and quickly reversed.

The lows likewise coincide with heavily oversold weekly oscillators, and a return to more normal market conditions would favor further US Dollar recovery.

Multi-year spike lows at 87.14 should serve as a base, while next resistance is seen at the top of its short-term downtrend near 93.00.

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Yen Technical Outlook

Staying bearish the USDJPY has proved a wise decision although the decline over the last month has been choppy.

As long as price remains below 96 (below the resistance line from early October), bearish potential is significant (below 80).

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