USDJPY: With the pair holding on to its medium term upside, it looks to return to the 84.60 level. A breach of here will call for a run at the 85.00 level where a violation will turn attention to the 86.00 level and possibly higher towards the 87.00 level, all representing its psycho levels. Its daily RSI is bullish and pointing higher supporting this view. On the downside, support lies at the 84.17 level followed by the 82.82 level where a reversal of roles as support is likely to occur. However, if this fails, support lies at the 81.44 level where a breach if seen will target the 80.63 level. All in all, USDJPY remains biased to the upside in the medium term.
