USDJPY: Advances, Targets The 80.36/59 Levels

USDJPY: Upside pressure is building up for a return to 80.36 level, its Oct 2012 high. A clearance of here could push the pair further higher towards the 80.59 level where a breach will turn attention to the 81.77 level. Its daily RSI is bullish and pointing higher supporting this view. Alternatively, a failure of the 79.21/09 levels could trigger further declines towards the 78.00 level. Further down, support lies at the 77.13/00 levels. All in all, USDJPY faces further corrective threats.