USD/JPY Rallies On, Next Target Set At 166.07

The USD/JPY currency pair is continuing its upward trend, and there are no signs of it slowing down. According to ActionForex, the intraday bias remains on the upside, with the next target being 166.07, which is a 138.2% projection from the range of 152.25 to 160.71 at 155.01.

The bigger picture shows that the rise from 139.87 (2025 low) is part of a long-term uptrend. The next target in this scenario is 164.34, which is a 61.8% projection of the same range from 152.25. A firm break above this level would target 171.82.

As long as the 160.46 support holds, the outlook remains bullish, even if there's a deep pullback. On the downside, breaking below 163.02 minor support will turn the intraday bias neutral first, but the overall outlook will remain bullish as long as the 160.46 support holds.