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USDJPY breaks above 79.70 resistance, suggesting that lengthier consolidation of the downtrend from 84.17 (Mar 15 high) is underway. Range trading between 78.99 and 80.61 is expected in a couple o fays. Key resistance is located at 80.61, as long as this level holds, one more fall to 78.00 is still possible. On the upside, a break above 80.61 will indicate that the fall from 84.17 has completed at 78.99 already, then the following upward movement could bring price back to 83.00 zone.
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