The bottom has dropped out of USD/JPY with the loss of support in the 81.60/70 area. The 38.2% retracement of the 79.55/82.23 rally comes in at 81.21.
We dipped briefly to 81.15 before stabilizing. Further support is at 80.95.
Selling rallies toward 81.60/70 looks like the way to go near-term.
