USDJPY: Having sold off strongly on the back of its two rejection candles, the pair now looks set to decline further towards the 79.62 level. A violation of here will call for a run at the 79.34 level with a cut through here allowing for more weakness to occur towards the 78.18/27 levels. Its daily RSI is bearish and pointing lower supporting this view. On the other hand, the pair will have to break and hold above the 81.77 level to end its present bear threats. This will call for a run at the 82.53 level. Its daily RSI is bullish and supportive of this view. All in all, as long as USDJPY continues to trade and hold below the 81.77 level, risk remains lower.
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