As we have expected in yesterday's report, USDJPY broke the 92.50/92.53 support on 3rd attempt, but the drop to follow was undersized, and could not test the important support area 91.73-91.76. Although this move was smaller than expected, all other things indicate that we are running in a flawless downtrend that is facing no problem. The bottom of the current channel is below 91 now, and the top is at resistance 93.04. It is mandatory to stay inside this channel and below the most important resistance at the moment 93.04. The downtrend will gain more confidence once we break the nearby support 92.06.

 
Support:

• 92.06: short-term support.

• 91.73-91.76: Strong, important support area that combines July 8th, 10th &

 
13th lows.

• 90.72: the bottom of the falling channel from Aug 7th high.

 
Resistance:

• 93.04: The trendline falling from Aug 9th, the most important resistance
 

for short-term.

• 93.66: Aug 19th low.

• 94.19: Aug 17th low.

Forex Analysis by Cory Mitchell at ForexPros. com.
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