USD/JPY analysis (July 25)

The pair is now following a clear downtrend and we might see additional pressure going forward.
It is worth noting though that we didn’t see an acceleration of the decline last week following the strong sell-off on the US Dollar. This relative outperformance might prepare some kind of bounce but it is too soon to tell.
The key level to watch on the upside is the former support at 80,00.