The USDJPY's wane from 81.77 recommenced last week and dived to as low as 79.71. Initial bias is neutral this week and some sideway movements are anticipated to be seen first. However, augmentation is reckoned to be limited by the EMA(60) in the four-hour allotment.

Furthermore, the USDJPY's ricochet from 79.73 low was held by the medium-term to long-term abating trend line as well as the EMA(60). Consequently, a down trend from 84.16 is surmised to still be in progress. In any case, a breach of the 82.88 is required to revitalize the case that the USDJPY's downhill trend has ended. Or else, bearishness is deemed to continue.

In the medium term, SMA(4) has crossed under SMA(9) and SMA(18), suggesting that price action is now skewed to the downside. Also, Parabolic SAR(0.02,0.20) in the near term shows price action is surmised to be bearish as the indicator is now situated above the candlestick formation. Moreover, Stoch(14,3,3) shows that price has reached the oversold threshold and has formed a bearish divergence, suggesting that price action for the near term is likely to remain bearish. With these indicators leaning towards a bearish outlook at the latter part of the week, a short position seems feasible for the USDJPY pair this week.