USD/JPY is stuck in 76.17-76.87 range. Even though trading within this range is possible, it is negative for pair not being able to benefit from latest USD strength. That means if the pair goes below 75.90, it may drop fast to 75 and 73 levels.
It was a nice bounce this week but unless the pair trades above 1.5780, the general outlook is still bearish. Today’s expected trading range is 1.5710/40 – 1.5550/30.