The USD/JPY pair remains confined within a consolidation pattern that originated at 162.83. For the start of the week, the initial bias stays neutral. As the consolidation phase continues, a further decline cannot be excluded; however, losses are expected to be limited by the 38.2% retracement level of the 155.01 to 162.83 move, situated at 159.84. On the upside, a decisive break above 162.83 would prolong the broader upward trend toward the 164.34 projection target.
From a wider perspective, the advance from the 2025 low of 139.87 is viewed as another leg of the long-term upward trend. The next objective is the 61.8% projection of the 139.87 to 159.44 range from 152.25, calculated at 164.34. The outlook will remain constructive as long as the 155.01 support level holds, even if a sharper correction occurs.
On the long-term chart, the uptrend from the 2011 bottom of 75.56 is still unfolding and may be poised to resume. A firm breach of 161.94 would set the stage for a medium-term push to the 61.8% projection of the 102.58 (2020 low) to 161.94 (2024 high) move from 139.87, targeting 176.55. The long-term bias will stay bullish provided the 139.87 support is maintained, despite any potential deep pullbacks.
Also Read
- SBI Holdings Takes Majority Control of Singapore’s Coinhako to Deepen Asian Crypto Footprint
- CBN to Monitor Every Dollar with FXBT, Forex Tracker – Nigeria Communications Week
- T. Rowe Price Debuts $2 Trillion-Backed Multi-Token Crypto ETF Featuring XRP and DOGE
- India’s Foreign‑Exchange Reserves Rise by $964 Million to $675.16 Billion
