Having broken through the 81.47 level, its July 08'2011 high and resumed its uptrend, USDJPY looks to strengthen further in the new week. In such a case, the 82.21 level, its May 24'2011 high will be targeted with a cut through there exposing the 83.27 level and then the 85.49 level. Its weekly RSI is bullish and pointing higher suggesting further strength. On the other hand, key support lies at the 81.47 level where a violation will turn attention to the 78.18/27 levels. A breach will push the pair back to the 77.35 level, its Feb 14'2012 low and then the 76.01 level. All in all, USDJPY remains biased to the upside on further strength.
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