By Mohammed Isah of fxtechstrategy.comUSD-JPY: With a marginally higher close after turning off its intraday high at 87.79 on Tuesday, USD-JPY was been weakening and threatening the 86.96 level, its July 1, 2010 low, in today's trading session. On a violation of the 86.96 level, further weakness should shape up toward the 84.80 level, its 2010 low. This view is consistent with its short-term downtrend started from the 94.97 level in early May 2010. On the upside, a return above its May 6, 2010 low at 88.23 will have to occur to halt its current weakness and bring more strength toward its violated rising trend line at 89.40, where a cap is likely to turn it back down again. All in all, with a failed recovery triggering downside pressure, threats are seen toward the 86.96 level and even lower.