The pair remains vulnerable to the downside for a return to its year-to-date low at 75.57 level. USDJPY has been under pressure since turning off lower off the 79.49 level in late Oct'2011. A decisive clearance of the 75.57 level will call for a further move lower towards the 74.00 level and subsequently the 73.00 level, all representing psycho levels. Its daily and weekly RSI are bearish and pointing lower supporting this view. Alternatively, the pair will have to break and hold above the 79.49 level to reverse its present bear threats and bring gains towards the 81.47 level, its July 08'2011 high and subsequently the 82.21 level, its May 24'2011 high. All in all, USDJPY is biased to the downside on further weakness towards its key support.

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