USD/JPY’s fall from 163.97 extends lower today. While further decline could be seen, strong support is still expected from (38.2% retracement of 139.87 to 163.97 at 154.76) bring rebound, at least on first attempt. On the upside, above 157.95 minor resistance will turn intraday bias neutral first. However, sustained break of 154.76/155.01 will pave the way to 61.8% retracement at 149.07.
In the bigger picture, as long as 155.01 structural support holds, the larger up trend is still expected to continue through 163.97 after current correction completes. However, firm break of 155.01 will raise the chance that USD/JPY is already in a larger scale correction, and open up deeper fall back to 139.87 (2025 low) in the medium term.
 bring rebound, at least on first attempt. On the upside, above 157.95 minor resistance will turn intraday bias neutral first. However, sustained break of 154.76/155.01 will pave the way to 61.8% retracement at 149.07.){kind=link}