Intraday bias in USD/JPY remains mildly on the upside. Sustained trading above 55 4H EMA (now at 159.19) will argue that fall from 163.97 has completed, and target 61.8% retracement of 163.97 to 155.22 at 160.62. On the downside, below 158.58 minor support will turn intraday bias neutral first.
In the bigger picture, as long as 155.01 cluster support (38.2% retracement of 139.87 to 163.97 at 154.76) 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.
 will argue that fall from 163.97 has completed, and target 61.8% retracement of 163.97 to 155.22 at 160.62. On the downside, below 158.58 minor support will turn intraday bias neutral first.){kind=link}