USDJPY: The pair remains vulnerable to the downside despite price hesitation seen on Monday. While the 102 .65 level remains unbroken, our bias remains lower. On the downside, support comes in at the 101.00 level where a break if seen will aim at the 100.50 level. A cut through here will turn focus to the 100.00 level and possibly lower towards the 99.50 level. On the upside, resistance resides at the 101.50 level. Further out, we envisage a possible move towards the 102.00 level. Further out, resistance resides at the 102.50 level with a turn above here aiming at the 103.00 level. On the whole, USDJPY looks to weaken further.
