The pair is now back under pressure threatening its yearly low at 76,40. A break below this level would expose further significant decline.
We need to see a break back above 80,00 to start considering a possible bullish resumption.
The BoJ is still watching the market and might be in a position for another intervention soon. We have to be vigilent as it would prop significantly the USD/JPY (and other related Yen pairs) once again.
Given the uncertainty on the Yen, we will remain on the sidelines for the time being.
Provided by atf-forex-trading.com