The USDJPY is down testing the July low at 77.94 (low just printed 77.93). The low from June 1 comes in at 77.65 and is the next target on the downside. Below that level, the 77.35 is another congestion area (see chart above)
On the topside, the 38.2%-50% of the move down from the Monday high comes in at 78.068.-117 area The high correction off the lows today come in at 78.08. Stay below and the bears remain in clear control.
