After breaking below 75.96 previous low, USDJPY bounced from 75.81. Key resistance is now at 76.47, as long as this level holds, the bounce is treated as consolidation of downtrend from 77.48, another fall towards 70.00 is possible after consolidation. However, a break above 76.47 will indicate that lengthier consolidation of the longer term downtrend from 85.51 (Apr 6 high) is underway, then another rise to test 77.85 resistance could be seen.

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