The USDJPY is keeping the bearish bias started on Tuesday when the price fell below trend line support. Today the price fell below the 77.65 support level and has moved to the next target at the 77.348 (see chart above). Staying above the 77.348 but below the 77.65 is an apropo level as we head into the Fed decision. Risk will be defined by those level with a break above 77.65 likely indicative of a further move high, while a break below 77.34 should look toward lower targets.