USDJPY: Retain Its Broader Downside Bias.
USDJPY: The pair continues to retain its broader downside bias as it looks to recapture its YTD low at 83.58 despite its price hesitation. A breach of there will open the door for more downside towards the 82.00 level, its psycho level with a cut through there aiming at the 81.00 level. Alternatively, a break of the 88.11 level will have to occur to annul its present downside pressure and bring gains towards the 89.14 level with a clearance of that level turning attention to the 89.68 level, its broken rising trendline. All in all, USDJPY remains biased to the downside in the medium term with eyes on additional lower prices.
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