USDJPY: With a follow through higher currently seen and a break above the 79.64 level occurring, further bullish offensive is expected. This development will leave USDJPY targeting its psycho level at 80.00 level where a breach will turn focus to the 81.77 level. Its daily RSI is bullish and pointing higher suggesting further strength. On the downside, support lies at the 79.64 level initially where we may see a reversal of roles. However, if this level breaks, expect the pair to decline further towards the 78.63 level. Further down, support resides at the 77.13/00 levels with a cut through here targeting further declines towards the 76.49 level. All in all, USDJPY remains biased to the upside short term