USD/JPY continues to trade within a sideways range, with neutral intraday bias. Uptrend momentum remains possible as long as the 156.36 support level holds. A move above 159.02 could extend the rebound from 152.87 toward the 160.38 structural resistance zone. Conversely, a break below 156.36 would prompt a deeper decline back to 152.87 support.
Looking at the broader picture, price movement from the 163.97 medium-term top appears to be correcting the earlier advance from 139.87. The initial decline may have completed at 152.87, sitting just above the 152.25 structural support level. A sustained break above the 55-day EMA (currently at 158.09) could enable a retest of the 163.97 high, though strong resistance is expected to cap further upside. Another downward leg likely remains before the overall pattern resolves.
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