Since breaking below last years double bottom at 87.10, USD/JPY traded to a low of 86.30 before bouncing back to 87.00 and it’s now sitting in the middle of this range. A break above 87.10 would suggest the possibility of an 88.00 re-test. Support levels are historical in nature, with nothing of note until a measured move towards 82 or the 1995 low at 80.00.