USD/JPY’s up trend resumed by breaking through 162.83. Intraday bias is now on the upside for 100% projection of 152.25 to 160.71 from 155.01 at 163.47. Firm break there will target 138.2% projection at 166.07 next. On the downside, below 162.18 minor support will turn bias neutral and bring consolidations. But outlook will stay bullish as long as 160.46 support holds, in case of retreat.
In the bigger picture, rise from 139.87 (2025 low) is seen as another rising leg of the long term up trend. Next target is 61.8% projection of 139.87 to 159.44 from 152.25 at 164.34. Firm break break there will target 100% projection at 171.82. For now, outlook will remain bullish as long as 155.01 support holds, even in case of deep pullback.
