The pair faces the risk of recapturing its key support at the 76.57 level as it reversed its early gains the past week and poised to weaken further in the new week.A clearance of there will turn focus to the 75.57 level, its Oct'2011 low with a break paving the way for a run at the 74.00 level and then the 73.00 level, all representing its psycho levels. Its weekly RSI is bearish and pointing lower supporting this view. Conversely, USDJPY will have to climb back above the 78.18/27 levels to end its present bear threats and then trigger its corrective recovery. This will clear the way for a run at the 79.49 level, its Oct 2011 high followed by 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 in the long term as it looks to recapture its key support.
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