BEETRADERS- For Trader$ by Trader$

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USD/JPY drew strong support from 75.57 and rebounded last week, indicating that fall from 78.33 might be over already. Further rise will remain mildly in favor this week as long as 76.89 minor support holds. Rise from 76.60 would target a test on 78.22 first. So far, price actions from 79.52 are treated as a consolidation pattern to rebound from 75.56. Break of 78.22 will be the first sign of rise resumption for 79.52 and above. On the downside, however, below 76.89 will flip bias back to the downside with focus on 75.57/60 again. Break there will extend the fall from 79.52 towards 75.56.