The pair has backed off higher prices and turned lower the past week, leaving the risk of further weakness on the cards. Unless it returns above the 80.59 level, we should see further weakness towards the 78.78 level. A turn below here will call for a run at the 77.66 level. Further down, support lies at the 76.49 level and then the 75.57 level. On the upside, a return above the 80.59 level must occur to reverse its past weak losses and bring further upside towards its April 04'2012 high at 81.85. Further out, resistance resides at the 82.53 level. All in all, USDJPY remains vulnerable into the week.
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