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USD/JPY’s fall from 79.52 accelerated to as low as 77.04 and the decline is admittedly deeper than expected. The development dampened the view that fall from 79.52 is merely correction but then, it’s not clearly impulsive so far. There is no indication for trend reversal and USD/JPY is still trading below resistance trend line, thus make our vision for next week bias - bearish. We’ll stay bearish as long as 80.25 break isn’t in presence. On the downside, below 76.41 minor support t will flip bias back to the downside for 75.94, such decline will suggests that long term favor is still for down trend. Break of 75.94 low will confirm resumption of whole fall from 85.51 and would target 70 psychological level. This down trend could extend further if price break the 75.94 low and thus price is heading for new all time low. On the upside, break above 76.67 will target a test of 80.25 high. If price extend further upside this will signal that we have a rebound started from 75.95, we expect a strong resistance from near term falling trend line, to limit upside move.
