USD/JPY Analysis (August 26)

We have seen the pair confirming a possible material base on top of its historical low (76,00) with a break back above the 77,00 handle.
We now expect a continuation of the bounce towards next key resistance at 80,00 corresponding to the weekly 20 moving average. That would alleviate the immediate downside pressure.
Only a break below 76,00 would negate this bullish outlook.