Intraday bias in USD/JPY is turned neutral first with current retreat. Considering loss of momentum as seen in 4H MACD, in case of another rise, strong resistance could be seen from 159.59 to 160.62 (50% and 61.8% retracement of 163.97 to 155.22). On the downside, firm break of 158.58 will turn bias back to the downside for deeper pullback.
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.
. On the downside, firm break of 158.58 will turn bias back to the downside for deeper pullback.){kind=link}